hmmn, buying the dip at some point is going to cost longs. I ask the bulls, what's going to drive tech higher from here?? So much has already been priced in, tech companies announced earnings, exploded then gave it all back and some. Higher taxes, regulation, sky rocketing commodities, not to mention higher inflation which i suspect we'll start to see tomorrow and Wednesday. The Q's is sitting right on its strongest line of support at 325. Not only is the 50ma there but a months worth of resistance from 2/17 to 3/16 which the QQQ's broke through on 4/1. Everyone is their brother (RETAIL) has been buying the dips, unknowingly buying shares from insiders and Hedge funds, Insiders at the highest rate in 14 years/ or 2007. Potentially ugly set up for those buying the tech dip here. We'll see shortly. I'm expecting SQQQ to run to its 50ma to 12.75 area before a pullback. Maybe if inflation is weaker than expected we see one tomorrow but i believe it will be short lived. Price action the past 2 weeks has been very clear as to what's going in. SQQQ
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