Blog Post: Day 8 of $QQQ short term down-trend; 38 new US highs and 65 lows; $QQQ remains in a longer term Stage 2 up-trend, but not $DIA and maybe not $SPY; With GMI=1 and Red, it is time to be very defensive and maybe in a little $SQQQ, see daily charts of QQQ and SQQQ, but will last week’s bounce hold?


QQQ remains in a short term down-trend. One way to play this is to own a little SQQQ, a 3x leveraged bearish ETF, that rises when QQQ falls. But we need to be nimble because many down markets have ended in October. As the Sell in May saying says, return on Halloween. Let’s see first if last week’s bounce holds. It may present an opportunity to get into SQQQ a little lower.

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