$ProShares UltraPro QQQ(TQQQ)$

$ProShares UltraPro QQQ(TQQQ)$ NOV20 73C, still actionable.

Zone: $70.15 to $71.13

Invalidation: close under $68.21

Objectives: $75, then $79.27

The math: up 6.2% to the first objective and 12.2% to the second, against 3.4% risk on the invalidation, better than 3 to 1 to the second.

Think of this swing setup like a rubber band pulled too far in one week and now snapping back a little. TQQQ fell more than 13 percent in five sessions and closed Friday at $68.21, yet buyers lifted price near $70.64 and held the low at $70.13. The floor is close, and if the bounce holds there is room toward $75 first and $79.27 next, while a close under $68.21 would tell you it failed and you step aside.

Watching $72.44, the high. A close over it would show buyers pushing toward $75.

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