ProShares Ultra QQQ Price & Performance (QLD)

ServiceNow's stock has been criticized for its high correlation with the Nasdaq-100 ETF, overshadowing its strong fundamentals and growth potential. Despite its innovations and leadership, the valuation remains unattractive, and analysts suggest avoiding the stock until its price decouples from broader market trends.1

Shares of ProShares UltraPro Short QQQ dropped 3.9% recently, with trading volume significantly below average. The stock's performance aligns with broader market volatility. Despite a recent dividend increase, the ETF's price decline highlights ongoing challenges in inverse Nasdaq-100 strategies.2

ProShares Ultra QQQ's latest technical analysis indicates opportunities for both long and short positions depending on resistance levels. While a break above $99.13 signals a buy, testing resistance could trigger short trades. The ETF's performance underscores the importance of adhering to defined support and resistance strategies.3