From yesterday’s highs in QQQ to straight above*, it was just over 3% below the uptrend line off the mid-2015 lows. *Keep in mind that trendlines are dynamic, meaning they come in at higher & higher levels every day. Therefore, if QQQ were to rally from here, it could take several weeks to hit that TL & that might be from a 5-7%+ rally, depending on if/when it gets there.

The 3x leverage tends to work against you over time although the 3x index ETFs are much less prone to decay than most 3x sector ETFs due to their lower volatility & day to day price swings. SDS & TWM are 2x shorts for the SPX & RUT or you could also use the 1x shorts: SH & RWM. However, during the right market conditions (i.e.- a mostly unidirectional trend) the 3x leveraged ETFs can actually do better than 3x the return of the index or sector they are tracking. Basically, you don’t want to hold 3x ETFs in a choppy, directionless market.

Well, I see that your question was answered. I took some time off & just now catching up on replies going back to Wednesday. Regional banks taking it on the chin with the sharp contraction of their spreads as long-term rates fall but the Fed keeps short-term rates as is. Not good for banks when they can’t make a fat profit on lending out their deposits at much higher rates.

The 60-min divergences on QQQ as well as SPY are still very much intact & were only extended at yesterday’s highs.

Never mind the question yesterday. KRE hit T2 today. LOL