Nasdaq ETF (QQQ)
With such a historic bull run going on, our weekly trades our almost always long.
But today, we’re looking at selling instead of buying.
Specifically, today’s Chart of the Week is shorting the Nasdaq ETF (QQQ).
We’re seeing fewer new 52 week highs.
The advance decline line shows that breadth is deteriorating.
And the risk to reward is heavily skewed in our favor if the QQQ is below that 336 level.
Above that, we’re sitting it out.
But below 336, we are short and covering at 275.
Til next week, good trading,
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