TQQQ Long Update

TQQQ is at a decent profit for the first day and I expect more, this could also in part be taken somewhat as a market update since this is a QQQ leveraged ETF.

 This is the most important chart for the bigger picture of this move as TQQQ is a 3x leveraged long of the QQQ, the 15 min positive divergence is of some size and suggests we still have plenty of upside, this shouldn't be a 1-hit wonder.

 The 5 min chart held up well today so I'm glad to see that and will continue to hold TQQQ, the only leveraged positions I'm more touchy about are October expiration options.

The intraday chart of TQQQ is interesting because the negative intraday divergence often causes a pullback, but sometimes a consolidation can take place through time rather than price and that is what seems to have happened here, the negative divergence created a lateral consolidation through time rather than price and as we near the end of the trading day, the 1 min is starting to gain some strength and this is where it shows up first. So I'll take another look before the close, but it is starting to look good for a follow through day tomorrow.

Not every day in a bounce is going to be up, but the general trend should move up.

More updates coming...