Shorts:
BRCM – break down
COST – Daily sell triggered
HOG – Daily sell triggered
INTC – Gap continuation
Longs: NONE
Today the Q’s gaped down at the open and sold off hard until 11:45 setting the low for the day. Price action then went sideways within a range of 67.09 low and 67.53 for the high. Tomorrow my bias is short, if the market gaps down below or trades below 67.09, I’d be looking to short the first 5 min sell setup. If the market gaps up and rallies I’d be looking to take the hourly sell in the market once triggered at 10 or 10:30 reversal time near 67.73 at minor resistance. Larger targets for the day in the QQQ will be 66.40 area of Major Support and the next potential target area would be 65.35.
QQQ 1