Invesco QQQ Trust Series 1 (QQQ)

[frenchee]

Now short the QQQQ. Got in on Monday at 36.60. Current stop at 37.41. Suggest shorting QQQQ on strength up to its 50-day SMA.

What makes the speculation appealing is there no chart support until 34.90, the ADX is increasing, MACD is decreasing, volume on down days much higher than volume on up days, and the close is below the price 200-day SMA.

If we get a big down day on heavy volume, plan to close the postion and take profit as we are due for a short-term recovery afterward.