Longs:
C – Break out continuation
HD – Daily buy continuation
JNPR – Buy watch
MET – Daily buy triggered
MOS – Daily buy triggered
TOL – WRB follow through
WAG – Power trend continuation
Shorts:
AMGN – Gap continuation
KO – Gap continuation
QQQEOD02122013
The QQQ rolled over after lunch today @ 13:25 pm and continued the down trend to finish the day at 67.71 near an area of Major support. For tomorrow if we gap below or trade through 67.60, I would look to take the first 5 minute sell in the market near 10 am or 10:30 am reversal time. If we open neutral and move on up and trigger a sell at or near the 67.88 area by 9:35 one could short the Q’s with a longer target back down into major support at the 67.66 area. On a move or gap higher, the break of this 67.88 area would end the 5 minute down trend and the next higher low setup at or near 10:30 reversal time could be taken long into the 67.98-68.05 areas. My market bias is neutral, so read the chart and make your plays accordingly…