Tuesday, June 7, 2016

PSQ Inverse Short ETF of the QQQ's 2-Hour Chart Oversold Falling Wedge Positive Divergence

Most of the inverse ETF charts exhibit similar characteristics. A stock market top is likely near as explained by the complacency and lack of fear in markets verified by the low put/calls, low volatility, high bullish and low bearish Investors Intelligence sentiment and the euphoric march to Dow 18K. The Dow Jones industrials may print 18K as this message is typed. Reaching that threshold may create more bullish joy.

The 2-hour PSQ chart, an inverse ETF against technology (it goes up if stocks go down) looks interesting from a long perspective. Keystone bot some opening a long PSQ trade and will give it a whirl for a little while. The falling wedge, oversold conditions and positive divergence are attractive for a long play and perhaps it will all come together as the uber bullish complacency creates a market top. Most any inverse ETF is in play now as the indexes potentially top out. Triple X ETF's should never be played; those instruments are designed to strip you out of your money. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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