After Yesterday's sideways price action, If the Q's trade or gap above the 79.70 area I would look to take the first 5 or 15 minute buy that occurs near 10 am or 10:30 am reversal time, I'd stay long until the 2 minute uptrend ends. If we happen to gap below or trade through the 79.25 area I'd be looking to take the next sell in the market lower with targets at 79.10 - 78.95 area and a lower target of 78.40. If the sideways pattern continues, wait for the breakout or breakdown before taking a trade. Click on chart to enlarge...
qqq 09192013 homework
Longs: Shorts:
FWLT - Breakout continuation DIS - Gap continuation
HD - Breakout continuation ESRX - Breakdown continuation
LOW - Pivot I MET - Breakdown Continuation
LVS - Pivot I
MSFT - Break out continuation
NOV - Break out continuation
PCAR - Break out continuation
TGT - 123
UAL - Break out continuation