The QQQ finally opened with a gap down this morning to open @ 77.70 and triggered the first 5 minute sell in the market by 9:45 am. Priced moved back down nicely to break the prior low of 77.68 and set a new low of 77.65 by 10 am reversal time. Price rallied for 10 minutes then triggered a 2nd sell that has since set the low for the day @ 77.59 by 10:30 am reversal time. Now price did find a bottom and the Q’s have rallied all the way up to break the mornings high of 77.93 and we are now in a confirmed 5 minute uptrend. Price is currently trading in the 77.99 area at 1 pm EST.
My trade of the morning triggered in the Q’s during the first sell setup that triggered at 9:45 am. Too often I don’t take these market trades that I post the night before in my blog, only to look back and wish I had. So I’m making an effort to take these market trades when my prediction is right on the Money! Today it was, the QQQ gaped below the 77.80 area and I mentioned last night to take the first sell set up that triggers in this area, so I did. The trade was quick and painless but I was hoping for the lower target at 77.30. A nice 1 “R’isk unit made on my market trade this Wednesday morning, 911…
QQQ 09112012