On Friday the QQQ closed on its high of the day @ 67.15 breaking out and continuing the uptrend on the 5 minute chart. For Monday if the Q's gap up or continue to trade up in the morning, I'd look to buy the first 5 or 15 minute buy that triggers near 10 am or 10:30 am reversal time at the 67.05 area with possible long targets of 67.24 to 67.64 areas where I'd expect to see an hourly sell trigger over lunch. If we happen to gap down or trade down to the 66.92 area I'd be looking to buy the Q's @ Major Support at or near 10 am or 10:30 am reversal time. If we gap or break down through the 66.85 area I'd sell short the first 5 minute sell setup at 10:30 reversal time with a lower target at the 66.64 area. Click on chart to enlarge....
QQQ02242013
Longs:
DIS - Daily buy watch
FSLR - Daily buy watch
HAL - Daily buy watch with COG
HPQ - Gap continuation
INFY - Gap continuation
JDSU - Daily buy watch with COG
JPM - Daily buy triggered
MS - Daily buy triggered
VLO - Daily buy triggered
XLNX - Daily buy watch
Shorts:
POT - Break down continuation
QQQ02242013