SQQQ's Steep Drop From Yellow Sell Zone

٩ أكتوبر ٢٠٢٣

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 NDQ 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.