TQQQ Entry and Charts

Here's the actual time the order was place for the equity model portfolio...

 The fill should come in right at that break just below the support level, which if it holds, I couldn't ask for a better entry. In situations like this, when positioning on an expected reversal, I rather phase in to the positions, I don't have much risk on the initial entry and have room to add at either much better underlying tone to the trade or better underlying tone with lower prices (better prices/less risk).

The NASDAQ futures show that exact break of support which lasted a minute, to be at a positive divergence, even though the intraday 1 min futures chart is sloppy, that divergence can be made out fairly easy.

 This is the small move in TQQQ I'm trying to capture (positive divergence 5 min leading) and just using the QQQ alone doesn't offer enough profit potential.

 TQQQ (3x long QQQ) was also positive intraday at the order entry.

 I like to confirm using a totally different ETF that has different volume which can give different signals, so I used SQQQ to confirm which would be the 3x short QQQ which has been doing well lately, but as you can see, at the time of the order, SQQQ was negative and not in confirmation of the price trend.

In fact...

 The longer term intraday SQQQ charts are negative (this is positive for the QQQ and TQQQ) like this 3 min

 This 5 min

 And this 15 min, and that's about along the lines of the timeframe the TQQQ trade is meant to capture, a few days.

 When you look at the long term 60 min SQQQ chart, it is very positive and confirms what we've been seeing in the market, the bigger picture is quite negative (remember SQQQ is a bear ETF so it looking good is negative for the market)

That also confirms the negative long term divergence in the QQQ seen here. I hope this isn't too confusing, but I'm just trying to capture an upside bounce using TQQQ while the longer term is very negative, after any upside bounce, I'll be looking to add bigger, longer term short positions.