The impact of Google’s rough earnings is enough to outweigh Microsoft’s stelar profits. With more earnings news on deck after the close we have to really dig deep and ask ourselves how much do we like our trade that exploits the tech slide?

The weekly chart looks different enough after today’s session to give pause. Take a look and lets line up our choices.

This is the same exact trendline we drew this morning but it paints a different picture after the drop today. While it looked like the downtrend was trying to reverse early, now it looks very much intact. With this being a weekly chart a move like that is even more significant.

So how do we use this to our advantage? The SQQQ Dec 18 45 calls are still at about $2. Adding to our position would be one choice. Or we can take the recovery we are seeing today and lock it in before the next round of news hits.

I am still in and holding tight. Stay tuned to see how this works out.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily