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.
Comment:
This should occur in the next two weeks or so
Comment:
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.