Ticker: Tqqq
• Seasonality PRE ELECTION YEARS July 28th – Aug 25th (Avg return -8.45% )
• SMC
Long term market structure: Bullish
Short Term market structure: Bullish
Bullish order block: $42-$43
Bearish order block: $45.41- $45.74
Breaker Block: $43.84 - $44.10
Imbalances: Upper $46.21 - $45.70 Lower $43.01- $44.59
Bearish CHOCH: $42.44
IDM sweep: yes @ $42.51
Next BOS: $45.72
• Elliot wave: ABC Flat correction
• Price Action
Support: $44.84 AND $43.89
Resistance: $46.57 AND $46.13
Summary: As for now nothing is screaming short besides stocks being overbought on multiple time frames, yes u can short here and get lucky and catch a good drop but that’s pretty much gambling, if you do it here you will do it on every pullback and not be so lucky, go with the trend.
• Seasonality PRE ELECTION YEARS July 28th – Aug 25th (Avg return -8.45% )
• SMC
Long term market structure: Bullish
Short Term market structure: Bullish
Bullish order block: $42-$43
Bearish order block: $45.41- $45.74
Breaker Block: $43.84 - $44.10
Imbalances: Upper $46.21 - $45.70 Lower $43.01- $44.59
Bearish CHOCH: $42.44
IDM sweep: yes @ $42.51
Next BOS: $45.72
• Elliot wave: ABC Flat correction
• Price Action
Support: $44.84 AND $43.89
Resistance: $46.57 AND $46.13
Summary: As for now nothing is screaming short besides stocks being overbought on multiple time frames, yes u can short here and get lucky and catch a good drop but that’s pretty much gambling, if you do it here you will do it on every pullback and not be so lucky, go with the trend.
Note
warning bulls we have hit this support multiple times. use caution 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.