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ProShares UltraPro QQQ discussion

Aug 2

if remains down next level to watch is around 50

Aug 2

ema20 is crossing ema50 from above, next level to watch $57

Jul 23

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Feb 23

H&S to IHS 50MA now support. Resistant Trend line target. Lunch time trading begins with break outs, traps, quick retraces in a channel. Bearish Channel to bullish channel forming. Expecting some chop here. careful on the break outs.

Feb 21

We finally closed the open gap and acted as support. Probably will lure more calls in here. 5 day intraday chart. Pattern is revealed. The deeper sellers bring it down the more we will see both sides getting trashed. Expecting chop here before NVDA. Quick profit taking key on these reversals. Will be watching for more set ups bet will not get greedy as I don't need any more of that medicine. Manage your risk first.

Jan 24

Starting from 1st peak after trough in Sept (28th) projecting tops forward to March 11 TQQQ will hit $65. I like it but maybe I'll realize a bit of profit and buy some SQQQ insurance. What is your "plan" (Thinking of Mike Tyson's quote seems appropriate)?

Jan 10

TQQQ -reversal up likely has legs as the market continues to discount upcoming rates cuts. FED will still be data dependent but it looks like TQQQ is headed higher.

Jan 4

The TQQQ meltdown of the past few days is appears earnings driven. Underlying the obvious is a market in which funds have crowded in to the tech sector making it a lop-sided bet for the smaller players. If tomorrow's unemployment data comes in above expectations, the market is likely to test the 44.00 handle, 38.2% of the recent run-up. If the jobs come in below 170k-ish, we should are likely to see a pop to the upside. I've got a light short position but note the weekly and monthly charts are still bullish.

Dec 7, 2023

Peaked above the Dec 1 high but close below it. Tomorrow is the much anticipated jobs report for Nov 2023. We getting closer to being overbought, tomorrow's report shows that job market is loosening up, then it is possible the initial reaction takes us to overbought territory before reversing. We shall see.

Dec 6, 2023

well! The nature of chart reading. No doubt yesterday's action was very bullish with an engulfing pattern. However, this did not come from a over bought area. I want to see the stock take out $44.44 (the high of Dec 1) before bailing out on the bearish trade. Given this is the non-farm payroll week, we expect volatility.