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SQQQ Continues to Show Strength

Written By: ChartChamp

September 3, 2024

SQQQ continues to show bullish momentum as we wait for some labor data this week. There will be important labor data on Wednesday, Thursday, and Friday. There is bearish sentiment as we approach a seasonally bearish Sept, and smart investors have concerns about the weakening labor market. SQQQ is trading within a range between $8.24 and $8.65, I would look for entries as low as possible. NVDA has suffered a post-earnings selloff, and I think if NVDA manages to rebound SQQQ will dip back down for a buy opportunity. We’ll see how things are trending throughout the week, for now SQQQ continues to show bullish momentum.

QQQ is starting off the week with a selloff. There is a EMA support zone around $470 and the possibility of a rebound here. If QQQ fails to rebound there is a risk of dropping down to the lower end of this range around $463.82.

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