I’m a chartist to the core. That doesn’t mean I ignore other investing techniques. But it does mean that when the charts tell me a story, and I can point to a reasonable rationale for why, I take note. And I will write about it here.
Right now, I see multiple “red flags” with the chart of the UltraPro QQQ 3X ETF (TQQQ), which aims to track the popular Nasdaq QQQ Invesco ETF (QQQ). It is indicating that the market’s concerns about the combination of tariff-induced price pressures on U.S. businesses and consumers, the growing employment situation (higher unemployment claims) and the timing of the Federal Reserve’s next precious rate cut, are all weighing on investor behavior.
