The QQQ ended the day with all time periods in an uptrend, thanks to the Fed. I'd look for more follow through to the upside tomorrow, but expect a narrow range day, which means, take your profit early and don't expect another green wide range bar day. For tomorrow, if we gap or trade down just above the 78.90 area, I'd look to take the first 15 minute buy at 10:00 am or 10:30 am reversal time. Long targets will be back up to the high near 79.50. If we happen to gap up above the 79.50 area, I'd look to take the first 5 or 15 minute buy that triggers above the 79.10 area with the same target as mentioned at 79.50 area, don't be surprised if this area breaks higher. I would look for a short play only if the 78.90 area was traded through or we gap below this area, then take the first 5 minute sell that occurs near this same area preferably near a reversal time. Short targets will be the 78.70 - 78.60 area... Click on chart to enlarge...
09182013 QQQ homework
Longs: Shorts:
ADBE - Gap continuation ESRX - WRB continuation "picture of weakness"
AKAM - Pivot I
INTC - Pivot I
JNPR - Daily buy continuation
LLY - Pivot I
LOW - Daily buy triggered
LVS - Pivot I
QCOM - Daily buy triggered
SLB - Break out continuation
T - Pivot I