The recent selloff of the technology sector has intensely changed most opinions on Wall Street. Most people had approached the matter with an arrogant attitude making some investors think that the market is unrelenting. Apparently, things have changed, and people are highly nervous about the situation. The change of attitude has brought about an opening for irregular markets to emerge during summer. This situation is sometimes experienced during the summer months that are characterized by low volumes. Apparently, due to change of the Wall Street sentiments, the likelihood of the same experience occurring more is quite high.
It is possible to take advantage of the irregular markets by applying a proactive strategy and end up making profits. This strategy is known as ‘Lock and walk’ and is designed to balance support and resistance points in the Nasdaq100NDX, +1.44%. You should then craft the ProShares Ultra QQQ QLD, +2.79%, and ProShares UltraShort QQQ QID, -2.88% only when the resistance and support points are broken or tested. The strategy has been proven to work before and thus might still work for any optimistic individual or entity. The strategy has simple rules while include that if support is tested through QLD, then there is target resistance to trade, if support happens to break, then you should sell QLD, if resistance is tested through QID, then there is target support to trade and finally if resistance breaks, you should sell QID. The main idea about this strategy is that it directs you on when to shut down your business until the next profitable trading period. It is very helpful whenever a business person is operating in a choppy market environment.
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