$SQQQ Cup & Handle Breakout
Updated
As Nasdaq and 
QQQ face increasing headwinds, SQQQ has broken out of a long-term ascending channel it entered in June 2021. Having formed a cup & handle and given the Fed's hawkish policies now has a price target of the March 2021 high around $84.
Significant volume since the outset of the year continues trending upwards.
Look for a retest of $64 for confirmation. If it breaks down from $64, the invalidation level is around $55.
QQQ face increasing headwinds, SQQQ has broken out of a long-term ascending channel it entered in June 2021. Having formed a cup & handle and given the Fed's hawkish policies now has a price target of the March 2021 high around $84.Significant volume since the outset of the year continues trending upwards.
Look for a retest of $64 for confirmation. If it breaks down from $64, the invalidation level is around $55.
Note
Invalidation of C&H, still a very bearish scenario as CPI comes in @ 9.1 YoY, above expectations.Upside remains more probable than downside from here.
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