$SQQQ
Added 2024-08-01 16:00:25 +0000 UTCA lot of talk about the $SQQQ so it is worth looking at
With the $QQQ rejecting at its 50 Day MA, we would naturally see the $SQQQ hold support above its 50 Day MA, they are inversely related to each other.
We do need to see more before we start assuming that the $QQQ is about to be confirmed in its correction and that the $SQQQ is going to start moving higher
This is a leveraged position so like I always warn, we do not want to get this wrong.
If you want to start a position, make sure it is a small one and this is where I believe a stop loss makes a lot of sense.
$AAPL and $AMZN are still to report later and they CAN pull the market up, they are two massive players in the market, look how $NVDA behaved after $AMD's earnings and that is a dwarf compared to $AAPL and $AMZN
