The Q's opened neutral this morning @ 77.42 then proceeded to sell off into 9:50 reversal time. Price rallied 10 minutes then rolled back over triggering my first pivot entry short in the Q's. Price continued lower until 10:15 then marched back up to break the first lower pivot of the day but falling short of the open and at 10:30 reversal time, the QQQ triggered the first textbook sell where I added another 1/3rd to my position. From here, we were off to races lower, my first target was at the low of day @ .70 where I covered a few of my shares. Then, price flurried lower where I covered again @ .61, .51, and .41. Price set the low of the day by 11:15 reversal time @ 76.35 and has since bounced ending the down trend on the 5 minute chart. My play in the QQQ trailed out @ .46. A very nice 1 1/2 "R"isk unit play on partial shares. Price is currently sideways on the 5 minute chart trading between 76.91 and 77.25.
