ProShares UltraShort QQQQ (QID) on the Rise

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By Mike Paulenoff | Published 03/13/2007 | Stocks | Unrated

ProShares UltraShort QQQQ (QID) on the Rise

The ProShares UltraShort QQQQ (QID) ETF is having a good day with the markets down. The pattern and 4-hour RSI have turned up sharply today and appear poised to revisit the March 5 high at 58.00, which if hurdled should trigger acceleration to 60-61 thereafter.

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.

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