The trend line from the March lows has been broken and the ETF is on the cusp of breaking below its 50-day EMA.
What's more, the MACD is showing a hugely bearish reversal, even more dramatic than it did back in March. This suggests further weakness for QQQ.
SQQQ offers 3x inverse leverage to the QQQ ETF. QQQ tracks the Nasdaq 100, an index consisting of the 100 largest stocks in the Nasdaq. SQQQ offers an easy way to short this selloff in tech, healthcare, communications, etc.