TQQQ pushing back up

Aug 18, 2017

Thursdays drop was extreme, to many it suggested a pull back in the market was coming. On a longer term scale the chart shows that it may have a little more downwards to go downwards as far as back to 103, but I think that 105 is the bottom of this most recent drop in the market by looking at a shorter term chart. TQQQ will be pushing back up to past 110 to the 111-114 range based on our 1hour chart. If it continues the pattern for the year though it could still reach 120 by the end of the month.

Aug 18, 2017

Note

This should occur in the next two weeks or so

Aug 22, 2017

Note

looking at the chart it may not reach the 114 mark. I would start setting in my stop losses at 108.25 and let it ride all the way to 110 where some market weakness will start to appear.