In my previous update I emphasized that this yellow sell zone is a very strong resistance level for SQQQ. There was a lot of uncertainty surrounding the Friday jobs data, but the data came in very strong and almost double expectations. This led to a bullish rally for $NDX and $SPX that led to steep bleeding for SQQQ. I predicted that SQQQ will drop below the green support level over the next few months, these are my updated price targets on the way down.
My previous trade ideas can be found on TradingView
TradingView Chart: https://www.tradingview.com/chart/SQQQ/WpimF3EO-SQQQ-s-Steep-Drop-From-Yellow-Sell-Zone/
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