SQQQ hasn't broken out since October when we had a correction. There was about a 15% upside above the channel when that last occurred.
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Price action is following my expectation - HOWEVER - all the You Tubers are saying that may have been one of the fastest corrections in history. Hmmm possibly but in my opinion, its sort of like finding a leak and then putting caulk over it. Just saying that I think that unless we have a real correction we are kicking the can down the road. Of course, the correction will get bigger the more we put it off.
Always, if we do get some upside here we need to confirm and continue up. Otherwise, we'll go back into the channel and pretend this never happened.
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Always, if we do get some upside here we need to confirm and continue up. Otherwise, we'll go back into the channel and pretend this never happened.