above is a weekly close for QLD.
QLD which is 2X Nasdaq 100 appears to have hit a plateau 2 weeks in a row 10/16 and then last few days.
last 4 trading sessions NASDAQ hit 3 distribution days – which is concerning.
On 5/29 week QLD closed 62.65, where as the MA 20 Weeks was 53.67 – 8.98 dollars difference! about 14 %. Then it dropped by 6.3 dollars (around 10%)
The situtation is not that bad now – the difference between the two (MA and the price ) is about 4 %
Now for the current scenario – the ATR 20 DAYS is 2.43.
So lets wait and see. No clear sell as yet