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ProShares UltraPro Short QQQ

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SQQQ trade ideas

Blood on the White Collar US10Y is at support. With an expected terminal rate of 5.25%, the US10Y will not fall below the neutral rate (3.0%-3.5%). The fed has messaged that the September meeting was them getting to neutral (3.25) and the November meeting as entering restrictive territory (4.0). I see a higher upside risk than downside for bond yields. VIX is at 19 and SKEW,VVIX are depressed... Rotating out of GDX into here. Lets see. It may be a bit early for this trade but, the market is more or less rallying on the fed's "new policy" of a slower pace of rate hikes. The fed raised 75bp the last 4 meetings to get to a neutral/slightly restrictive level (4%). Now that each subsequent rate cut is tightening the economy, demand will fall due to lower amounts of liquidity. The fed did 4, 75b hikes in a row! A 50bp hike when rates are already at 4% is gonna tighten the economy MORE than two 75bp hikes at 1%. Every hike above the neutral rate tightens conditions more than rate hikes at below neutral to neutral levels. When markets come to understand this....this trade will be valid. Maybe we see a "santa clause rally" and markets go up into the new year? Stops and targets listed
NASDAQ:SQQQLong
by arama-nuggetrouble
8
SQQQ - forced recessionFed raised rate this month. They're doing what they said they plan to do. There will be more raising of rates. I mean, who else is going to pay for all this wasteful spending? Let me tell you, it ain't our elected politicians. Buckle up boys and girls. There's going to be a lot of moving around of money. Where will it land?... I see accumulation below the 200-day moving average. Can possibly break upwards from here but I think we'll be retesting support before heading back towards the 70's No reading advise here...
NASDAQ:SQQQLong
by HassiOnTheMoon
1
SQQQ long @ $40.00 I am adding onto my position in SQQQ, my last buy in point was $41.85 with the FOMC about to happen over the next 2 days, this is going to be my hedge against any drops in the market. We're well underneath the Keltner Channel and I expect to either trade sideways for the time being or move our way back into the channel as the next 2 days go on. We're sitting right under a major area of resistance, we will retest this over the rest of the week. Depending on what happens with the FOMC meeting, we may see a huge rebound in this. As you may know, asset classes of all types typically jump in price before these meetings. I may continue to add onto this position as I believe 2023 will be an absolutely s*** show with a global recession / potentially depression incoming.
NASDAQ:SQQQLong
by WatsonsView
Buying SQQQ @ 41.85I am accumulating SQQQ as I think we'll see the market turn over this week. A floor is forming on the CM_Williams_Vix_Fix Finds Market Bottoms, on the 1-day, 4-hour and 1-hour charts. We're currently retesting the bottom of the KC, if support holds, we'll see a reversal and profits throughout this week. This is still a good move intra-week as I know we haven't completed our fallout from happenings around the globe. Contagion effects in many different industries are still in play. I believe we'll retest the resistance of the 200-day EMA this week.
NASDAQ:SQQQLong
by WatsonsView
SQQQ is still looking strong, while the world markets are weakI've had more than a few people message or comment on my charts asking for an update on this. Here you go. We could potentially see a double top by the end of this week. If we do get one by the end of the week, we'll most likely get rejected around 68 and then start our move down. I'm sure my usual subscribers know I take profits early on all my trades to make sure I realize profits. This trend may not be over, but it's definitely well into it's movement. What are your thoughts?
NASDAQ:SQQQ
by WatsonsView
SQQQ , LONG I think this is a high probability trade . SQQQ is giving us a wedge pop in a market that is in red trading mode as of todays close ( yesterdays close put us into green trading mode as we closed above QQQs 10 and 21 ema but this was lost today and we closed very bearishly with todays candle that acted as an engulfing candle of particular significance since QQQ is near its upper trendline on the bearish down trend channel and we see to be rejecting the upper trend line . The engulfing candle in SQQQ's chart is taking out / eclipsing the bodies of 8 candles to the left , marked with arrows at top of candles but I would argue that you could count yesterdays candle in that to make it 9 candles , even though it never fully eclipsed yesterdays candle , we gapped up at open ( SQQQ ) so we can almost count it as a bullish engulfing candle for this too since the strength is clearly there. Also the volume from todays move is very high . Al Brooks , who I am a fan of , likes to think in probabilities and says "most randomized trades are around a 50% probability" but given the right conditions its possible to achieve up to an 80 % probability in rare circumstances, but 60% more common and easier for traders to find . So personally , given the power of the engulfing candle , the volume and the trendline with 3 major hits , I think this is very easily a 60- 65% probability trade to R1 at least . The market is in red trading mode so no regular longs but SQQQ is ok . Wedge pop is the signal . I suggest looking at QQQs chart too because I think it shows the upper TL in its downtrend channel better than the TL on SQQQ but it was too much to display here . I took it near the close , final 10 min of day . Entry - 41.66 PT 1 - 46.94 , 1R , sell 1/4 , stop up to half PT 2 - 52.19 , sell 1/4 H WD after derisk - sell 1/4 D WD after derisk - sell remaining
NASDAQ:SQQQLong
by NAK1987
Updated Analysis on Tech (QQQ)This is the daily chart of SQQQ. SQQQ is the ETF that tracks the Nasdaq 100 ETF ( QQQ ) inversely. When tech stocks fall, SQQQ rises. Traders, therefore, use SQQQ to short tech stocks, or to hedge against a collapse in tech prices. There are several bearish signals appearing in the daily chart of SQQQ, which hint that we may soon see bullish movement for QQQ and the Nasdaq. First, there is decreasing volume in the daily chart of SQQQ, which shows that fewer and fewer market participants are opening new short positions against the Nasdaq. This is occurring even while the price of SQQQ continues to move up. This divergence is bearish and is usually the earliest sign that a reversal is coming. Second, there are major gaps up appearing on the daily chart. Gaps to the upside on SQQQ have historically never failed to close back to the downside. Therefore these gaps should be viewed skeptically, as they fail to validate upward price action. Third, the upper limit of the Fibonacci Bollinger Band continues to act as strong resistance, continuing the more than a decade-long trend whereby price cannot sustain itself above this line on any sustained basis. This line has mathematical importance, it reflects a level of price deviation where, after being reached, price begins to show a mean-reverting tendency back to the downside. In this case, SQQQ's mean reversion would be bullish for QQQ and the Nasdaq. There are many other indications that are showing that SQQQ is too overextending, including the extremely over-heated Stochastic Heat Map. The NDTH is also indicating that a very significant bottom is forming for tech and the Nasdaq. In fact, the Nasdaq is so oversold that the current levels have not been seen this the market crash of 2008-2009. Therefore, SQQQ has effectively priced in a significant recession. While a significant recession might indeed be on the horizon, if a significant recession does not ensue, then we can be fairly certain that a major short squeeze for SQQQ will occur: However, the strongest bullish argument for SQQQ (bearish argument for the Nasdaq) is that weekly price broke through the Ichimoku Cloud for the first time ever. The only plus here is that the weekly candle is a spinning top and most oscillators are trending back down. Regardless, with SQQQ being this historically overextended, it can represent a rare opportunity to buy QQQ and tech stocks before a massive short squeeze occurs. While anything can happen, and one should always use stop losses, this chart does not convince me that SQQQ is about to breakout much higher to the upside. Therefore, I remain a holder of tech and growth stocks for the intermediate-term. Not financial advice. Anything can happen and trends can end.
NASDAQ:SQQQ
by SpyMasterTrades
4
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.
NASDAQ:SQQQLong
by lauralea