QQQ is forming a bull flag right below resistance as we approach NVDA earnings. There is the potential for QQQ to form a bullish breakout here, which would imply that NVDA beats earnings. Keep your mind open to the different possibilities to avoid getting wrecked with volatility. I haven’t been able to get a good short entry yet, I’m hoping for a large spike up for QQQ to get a good entry on SQQQ.
These are my SQQQ price levels to monitor. The market seems undecided headed into NVDA earnings. There has been some nice bullish momentum for SQQQ, but this is also a bear flag pattern that can trend down lower. I am personally still in the market and waiting for NVDA earnings. This was not my plan but SQQQ didn’t fall to my entry level yet.
NVDA beat expectations and we are likely to see a green day tomorrow. We continue to alternate between green and red days. The Sept 6 jobs report will be the key event to monitor. I don’t think shorts or longs are safe here. NVDA experienced volatility but remains pretty unchanged. SQQQ is green for the day and hasn’t dropped despite the bullish sentiment. We’ll see what’s in store tomorrow, seasonality suggests we have a green week
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