Loading ...Put A Fork Into The Q’s – They Are Done!
Today, The Nasdaq 100(QQQ) completes a H&S top. I purposely waited to post this today because I expected the Nasdaq 100 would rally today to complete the pattern. I have posted a couple of times about using PSQ as my preferred way to short the QQQ’s. I have been early, but the chart says this is it. You could have a one day lag before it sells off because after the close tomorrow, four of the components release earnings. I am going with the chart and that says to buy PSQ today, especially if it gets anywhere near 17.75-17.80. I know it will be down early, I don’t know what is going to happen after the FED announcement? Buy today under 18. 
I agree fork Q
Chartsmaster,
Thanks much!
Any reason you don’t want to use leverage in shorting Nasdaq? QID or SQQQ?
GL, I’ve been trading the SQQQ and with 3X leverage today’s range is a whopping 15 cents… it is just idiotic at best.
Great reply, JSKauai!
I’m a JNUG victim, so I totally get what you’re saying! Intended leverage can backfire, miserably!
I prefer not to use leverage and intend to hold for long term capital gains. I don’t follow your preferred vehicles. There have been problems with leveraged etf’s in the past that reset and don’t reflect the expected return. If you want 2x leverage just use PSQ and buy in a margin account. At least you are sure to get exactly the opposite of what the QQQ drops times 2.
Wow, look at that spike after the close.
https://finviz.com/futures_charts.ashx?t=NQ&p=m5
ZH put some charts of what the indexes would look like if the after hours trading were removed – pretty much flat. So where is all the flood of $ into the handful of drivers in the Nasdaq – international, likely europe where things are falling apart even moreso – Global currency flight to the FAGM’s- just a guess though.