$SQQQ This line dropped from 38.2 to 35.51. In under 24 hours, the five-point decline was already under 24%. And the volume has also expanded to 2.34 million. A volume-expansion drop is not a low-volume, slow bleed—it suggests the selling pressure is genuinely coming out.
Overseas, this line is shaking too. As a contrarian tool, SQQQ is being used by funds as a safe haven; and if it’s already rallied too much, that’s itself a valid reason for profit-taking. The 35.5 level is the day’s new low—once it breaks, there’s room to look further down. If it holds, first watch 36.8 for resistance and whether it can be overcome.
Set a stop-loss at 0.35 below 35.5, i.e., 35.15. If it breaks, accept it. If you want to bet on a rebound: first look at 36.2; only if it holds/stands firm, then look at 37.4. Aggressive traders can directly benchmark to 37.8. A loss of 0.35 in exchange for 1.2 to 2.3—the numbers add up.
After the next trading day closes, check whether 35.5 can hold. If it breaks, the direction is basically decided.
#SQQQ
Overseas, this line is shaking too. As a contrarian tool, SQQQ is being used by funds as a safe haven; and if it’s already rallied too much, that’s itself a valid reason for profit-taking. The 35.5 level is the day’s new low—once it breaks, there’s room to look further down. If it holds, first watch 36.8 for resistance and whether it can be overcome.
Set a stop-loss at 0.35 below 35.5, i.e., 35.15. If it breaks, accept it. If you want to bet on a rebound: first look at 36.2; only if it holds/stands firm, then look at 37.4. Aggressive traders can directly benchmark to 37.8. A loss of 0.35 in exchange for 1.2 to 2.3—the numbers add up.
After the next trading day closes, check whether 35.5 can hold. If it breaks, the direction is basically decided.
#SQQQ