Image Source: Pixabay

Here’s a bit of drama over a very short span of time: the ultra-short Nasdaq fund symbol QID, which, from February 19th until today, doubled in price (peaking April 7th, of course) and then proceeded to lose all its pop and push to lifetime lows. That’s the magic of leverage!

Relatedly, I would quietly point out that the QQQ is getting relatively close to its last meaningful resistance point, which is the underside of that broken trendline, anchored to October of 2023.

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