Replies to post #120 on UltraShort QQQ Pro (QID) (QID)

[sliverbullet]

By the looks of it we may not see a new record, but will be close it seems from looking at todays action.

[northam43]

QID Cycle Update: This was the 29th trading day of this cycle.

The record was 28 trading days. So we have now hit a new record. The question now is when will this cycle end?

I expect it will end this week, because:

-QID upper trend line price(43.39)continues to decline.
-MACD(12,26,9) is bullish
-The upside rally is running out of gas

Currently QID's price is below the lower trend line at 41.00

I believe the risk is low at this price level and I expect QID to move upward to the 43 - 44 price level.