In a normal less volatile market (ie; a full on bull market) double bottoms are a nice spot to re enter or scale bigger long.
In this market after yesterday's big down day (flag pole) and today's sideways chop with real indecision you lean into the larger pattern on cash only session charts (bear flag).
Fully expecting SQQQ to attempt to hit the last remaining VWAP (century @ $80) and TQQQ to possibly go much much lower. Without a freak bounce tomorrow consider not longing the Q's for some time it may be even more painful after bulls officially give up this area. Be careful folks. For reference $TQQQ's last century vwap is I believe all the way down at $14-$15...crazy right? Maybe not and time will tell.
In this market after yesterday's big down day (flag pole) and today's sideways chop with real indecision you lean into the larger pattern on cash only session charts (bear flag).
Fully expecting SQQQ to attempt to hit the last remaining VWAP (century @ $80) and TQQQ to possibly go much much lower. Without a freak bounce tomorrow consider not longing the Q's for some time it may be even more painful after bulls officially give up this area. Be careful folks. For reference $TQQQ's last century vwap is I believe all the way down at $14-$15...crazy right? Maybe not and time will tell.
Comment:
Near picture perfect...expecting more downside to come next week.