ProShares UltraPro Short QQQ ETF (SQQQ)

[Nikodemos]

EDIT: Did NOT realize that the 39,814 level was HIT today already (previous ATH I noted = 38,899)

That is close enough: When we consider the maths! 39,8xx level vs 85pts.

And the level FAILED it's first test.

I haven't checked the VOLUME (but should) & I would EXPECT another test -- which very well may coincide with the $10.00 test here...

Sorry, I thought that we had ANOTHER 250pts of margin. But the RUBBER meets the ROAD here I think...

Let's see what happens. A reversal COULD BE launched from this level, but we'd probably need to see a regular DECLINE in the dow.

There have been A FEW instances (when you graph comparatively) whereby the SQQQ met & went up to MEET the DOW on a LOG scale so they aren't 100% correlated. But in this case where EACH is at an EXTREME one would EXPECT both to meet the mean here. Which MEANS that the SQQQ is likely to be a profitable trade; scalp, swing &/or even longer-term. But the DJIA would LIKELY have to fail it's test of $40K for any long-term expectation to produce a positive trading outcome (for those going LONG SQQQ). Again, an election year -- so from MY POV, the extra caution makes sense....



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