The QQQ continued its sell off today making a new low of 65.20 by 11 am when price finally recovered and closed at 65.58. For tomorrow if price moves immediately below the 65.50 area which would trigger the hourly sell in the Q’s, I’d look to short the next 5 minute sell in the market with a first target back down to the 65.20 area and a longer, potential target of 64.22. If we happen to gap up or trade up past the 65.75 area I would look to buy the first 5 or 15 minute buy setup in the market at 10 or 10:30 am.
Longs:
APOL – Daily wide range bar
FSLR – Daily wide range bar
HPQ – Daily Bear Trap
KLAC – Daily wide range bar
WMT – Daily bear trap
Shorts:
LVS – Gap continuation
STI – Break Down
TOL – Gap n Crap continuation
