UPRO – UPRO needs to hold 64 intraday or there could be a downside breakdown and trigger of a full downward 3..worst case scenario in a downward 3 would be 1.618 at 58-60..that simple break would setup that type of move..in order to stop it, UPRO would have to at LEAST take out the intraday high at 66.3..the NASDAQ may help however by the close in causing this breakout.
TQQQ – Looks way better than UPRO right now, and is right near the intraday highs…there could be a 1-2-3 off the lows setting up now, and if it can take out the intraday high at 123.70, there’s a good chance of that follow through upward 3 AND S&P and DOW may get off the lows and reverse as well…the movement by NASDAQ today is very key.
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