SQQQ Nasdaq 100 Short ETF At Very Critical Support !
SQQQ, Pro Share's 3 X Short Nasdaq 100 ETF,
is at Very Critical 4 Hour Support this morning !
This is a hugely important support level
Pattern suggests that the 12.75 level must hold
or the risk becomes real for a waterfall decline in SQQQ.
Simply put,
If the 12.75 Support level in SQQQ, is violated today to end the month of January, or tomorrow to end the week,
by my chart analysis ,SQQQ would then be technically,back into the prior pattern, and would realistically
give the Nasdaq 100 itself, an opportunity to then potentially rally back to the prior all time highs of 7700 !
I ain't kidding you.
And that fact, I assure you is not lost on any bears right now on NDX.
To up the ante even more Amazon releases earnings after the closing bell today
If you are Bearish on the Nasdaq 100, this is where the rally has to stop, or else.
NDX Last 6807.91 1/30/19
SQQQ Last 12.87
Pre-Market Trading 1/31/19
THE_UNWIND
1/31/19 845 AM
NEW YORK
is at Very Critical 4 Hour Support this morning !
This is a hugely important support level
Pattern suggests that the 12.75 level must hold
or the risk becomes real for a waterfall decline in SQQQ.
Simply put,
If the 12.75 Support level in SQQQ, is violated today to end the month of January, or tomorrow to end the week,
by my chart analysis ,SQQQ would then be technically,back into the prior pattern, and would realistically
give the Nasdaq 100 itself, an opportunity to then potentially rally back to the prior all time highs of 7700 !
I ain't kidding you.
And that fact, I assure you is not lost on any bears right now on NDX.
To up the ante even more Amazon releases earnings after the closing bell today
If you are Bearish on the Nasdaq 100, this is where the rally has to stop, or else.
NDX Last 6807.91 1/30/19
SQQQ Last 12.87
Pre-Market Trading 1/31/19
THE_UNWIND
1/31/19 845 AM
NEW YORK