On Friday, the Q's opened by gaping over the last 15 minute wide range red bar to the middle of the sideways base to open at 66.89 area then price tested the lows of the base at 66.74 before moving up higher putting in the top at 9:45 am @ 67.19. Then price moved back down to the middle of the sideways consolidation at the 66.75 area where price found major support and consolidated until 1:30 pm where price broke out to the high side and retested the highs of the day but could not break through. By 3:00 pm the Q's started to fade back down into the middle of the base closing at 67.00.
For Monday I'd be looking to play short if we happen to gap up or trade back up to the 67.25 area. If we happen to gap below 66.88 area or if the current 15 minute buy fails in the market, I'd look to play the next 5 minute sell in the market back down to the 66.50 area with a nice lower target area of 66.25 area. If we happen to gap up above the 67.25 area, I'd look to play the first 5 minute buy setup to a target area of 67.70. We currently are in a sideways pattern in the QQQ which means, short the top and buy the bottom until we break out...
Longs:
AIG - Pivot I "Money Bar"
CTSH - Daily buy watch
MOS - Break out continuation
PCAR - Break out continuation
SNDK - Daily buy triggered
qqq