Mar 13

QID on the Rise

The ProShares UltraShort QQQQ (QID) ETF is having a good day with the markets down. The pattern and 4-hour RSI have turned up sharply today and appear poised to revisit the March 5 high at 58.00, which if hurdled should trigger acceleration to 60-61 thereafter.
Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!