Some weakness seems to have taken hold in this seemingly "bullet proof" index. Predicting any kind of weakness in this index and acting on it was a futile exercise for many years. A flat top formed on this index and as the saying goes "a flat top causes a drop" seems to be the order of the day for now. A cautious target of 14100 seems like the first support level if weakness continue.
I have a position in $SQQQ to hedge my portfolio
I have a position in $SQQQ to hedge my portfolio