The ProShares UltraPro Short QQQ ETF (SQQQ) closed on January 16th up 2.03% to $30.69, as the Nasdaq-100 Index faced a decline of 0.69% to 21,091.25, driven by a pullback in major tech stocks. Apple and Tesla shares fell more than 3%, contributing significantly to the negative sentiment in the tech-heavy index. The decline in Apple shares marked their worst day since August 5, while Tesla also saw a substantial drop. The broader market was cautious, with investors digesting a mix of corporate earnings reports and economic data releases. Despite strong earnings from financial giants like Morgan Stanley, which saw a 4% rise, the tech sector struggled, pulling the Nasdaq lower. The market's cautious tone was further influenced by the upcoming expiration of monthly options contracts, which could mark a near-term top for the market.