The QQQ closed at its highs today with a 5 minute uptrend firmly established, for tomorrow if we gap up at the open, I would look to take the first 5 minute buy at or near minor support at the 67.75 area with a long target of 68.25. If we gap down or open neutral and trade down near the 67.50 area, I'd look to take the first 2 minute buy setup that occurs with targets of 67.78 and a longer target of 68.25. If we gap or trade through the 67.07 area, I would look to take the first 5 minute sell that occurs with a low target of 66.50 and a second lower target of 66.00. My bias is long until the 5 minute uptrend ends.
QQQII03042013
Longs:
AXP - Break out watch
HOG - Pivot I
INFY - Daily buy watch
RIG - Gap continuation
T - Break out
TGT - Break out
UAL - Break out
WMT - Break out
Shorts:
INTU - Climatic watch
POT - Daily sell triggered
VZ - Climatic watch