Longs:
AIG – Gap continuation
AMGN – 123 pattern
CELG – Break out continuation
CREE – Break out continuation
EBAY – Daily buy Triggered
LLY – Break out continuation
LOW – Daily buy watch
LVS – Gap continuation
MOS – Break out continuation
MS – Break out continuation
RIMM – Break out continuation
Shorts:
CTSH – Climatic Watch
WMT – Weakly sell Triggered
WAG – Climatic short watch
XLNX – Climatic short watch
After the QQQ’s gap up this morning and rally, the day closed as we broke the 5 minute up trend and price put in a lower high. For tomorrow if we gap up over the 66.06 area or trade up over this area, I’d be looking to take the first 5 minute buy or base break out over this area with our first target of 66.26 area and a 2nd target at 66.56 area. If we gap or trade lower from the close of today, I would look to play the first 5 minute short in the market if we trade or gap though the 65.77 area. Short targets will be the 65.51 area and longer lower target of 64.54 area. My bias is short since the 5 minute chart is currently in a down trend breaking two prior pivot areas this afternoon.
QQQ12122012