The ProShares UltraPro Short QQQ ETF (SQQQ) is experiencing downward pressure due to a bullish sentiment in the Nasdaq 100 index. Despite the limited trading volume on January 20, 2025, due to the Martin Luther King Jr. holiday, the Nasdaq 100 has shown signs of a rally. Technical analysis indicates a breakout from a falling wedge pattern, suggesting a continuation of the upward trend. The index is poised to reach the 22,000 level, with pullbacks viewed as buying opportunities in a persistently bullish market environment.
The SQQQ ETF, which inversely tracks the Nasdaq 100, fell to $29.13, marking a 5.08% decrease from the previous close.