SQQQ Charts

I mentioned yesterday SQQQ or QQQ short was one of the stronger looking short term plays. You'll see when we get to a 15 min chart the obvious difference between the deterioration in the Q's vs a BIDU and why I consider BIDU a better pullback/long play and SQQQ (long) / QQQ (short) a better short term bearish play.

Remember SQQQ is a 3x leveraged QQQ short) so it trades and gives signals opposite the QQQ. Often the 2-3x leveraged ETFs seem to get signals earlier than the averages although that's not the case with QQQ, it's 15 min chart is quite negative too.

 Intraday 1 min leading in a flat zone looks like a decent entry area.


The 2 min has a relative positive divegrence trend, it is also leading.

 I'm not the best artist, but hopefully the idea comes across.

 The 5 min chart from negative to downside confirmation to a leading positive divergence.

This is where SQQQ is more interesting than say as BIDU, not because of the leverage, but the 15 min chart, that's leading positive and matches the QQQ 15 min leading negative.