The Q’s opened neutral and immediately set the day’s high of 66.88 then price sold off from there pulling back enough to trigger the first 5 minute sell in the market by 10 am reversal time. We are still in a nice 5 minute downtrend with the current low at 66.47. My first play was in LLY which I found this morning on my gap list as a possible play in the afternoon, but after the first 10 minutes price action in LLY started basing until 9:50 reversal time where LLY broke out to the upside. I had a nice .11 cent stop with a great risk to reward of 4 to 1, so I piled in as LLY took off higher. I sold 1/2 at the first target and sold the rest on a 5 bar flurry upward in the .80 cent range. Just a beautiful trade in LLY with a nice 6 1/2 “R” profit, I think I’m done for the week, just an excellent 3 days of trading with our short week.
LLY