SQQQ has formed a bullish rebound off the $8.18 support level last week, and is starting to spike back up again today. The sentiment has also tipped in favor of a 50 bps cut, which is a bearish sign that the Fed is likely too late with cutting rates. September has been extremely volatile so far with the worst performing week of 2024 occurring in the first week of Sept, and the best performing week of the year occurring last week. Tom Lee shared interesting data over the weekend, stating that when the first 4 days of Sept are red, the month of Sept has closed red the last 20 out of 20 times. Out of those 20 data points, Sept. 2024 ranked as the fourth worst start to the month of Sept.
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