Bullish SharkThe bottom of the V in the Crooked M can be a level of resistance.
This level is also Target 1. I did not put it on chart because it is already there.
Overbought on RSI on the hourly timeframe, not on daily, weekly or monthly.
Leveraged and moves 3 times the market moves both up and down.
Volatile and risky on index up days. It is best to buy this when the QQQ is up.
On Balance Volume is high. On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. Joseph Granville first developed the OBV metric in the 1963.
No recommendation.
ProShares Trust - ProShares UltraPro Short QQQ is an exchange traded fund launched and managed by ProShare Advisors LLC. It invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across energy, real estate, materials, industrials, consumer discretionary, consumer staples, health care, information technology, communication services and utilities sectors. The fund employs short strategy and uses derivatives such as futures and swaps to create its portfolio. The fund invests in growth and value stocks of diversified market cap companies. The fund seeks to track -3x the daily performance of the Nasdaq-100 Index. ProShares Trust - ProShares UltraPro Short QQQ was formed on February 9, 2010 and is domiciled in the United States.
The investment seeks daily investment results, before fees and expenses, that correspond to three times the inverse (-3x) of the daily performance of the NASDAQ-100 Index®. The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the fund's investment objective. The index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization. The fund is non-diversified. Benchmark: NASDAQ 100 TR USD.
Some would use the reverse ETNs to short the market if they are not comfortable with shorting individual stocks. Fees can be high and are not usually held long term.
Risky and Volatile.
