The ProShares UltraPro Short QQQ ETF (SQQQ) closed down 2.85% at $29.08 on December 23, as the NASDAQ-100 Index (NDX) rose by 1.01% to 21,503.17, reflecting a rebound in tech stocks. The upward movement in the NASDAQ-100 was driven by stabilization efforts following last week's sell-off, as investors showed renewed confidence in the tech sector. This recovery was supported by a lack of significant negative news impacting major tech companies, allowing the index to regain some of its recent losses. Additionally, the broader market sentiment improved, with investors looking past recent volatility and focusing on potential year-end rallies.