QLD: Wait For Confirmation After The Fed's Rate Hike

I rate the ProShares Ultra QQQ ETF a tactical Hold over a short-term horizon. QLD held its post-Fed support at $85.81, but its $86.96 closing price remains below its 20-day and 50-day moving averages. A close above approximately $89.20, accompanied by QQQ reclaiming $713 and stable or declining volatility, would support a tactical buy with initial and secondary objectives of $92.14 and $98-100. A QLD close below $85.81, particularly if QQQ loses $700, would support a tactical Avoid rating, while upcoming inflation data, employment reports, Fed communications and megacap earnings are the catalysts.

I rate QLD a Hold. After the Fed raised its target range by 25 bps, citing elevated inflation and solid activity and company investment, the fundamental question is whether there is enough confirmed