Thursday, October 11, 2012

TQQQ Filled the Gap-decent entry area

I thought I got a great fill yesterday at the lows, well it seems TQQQ as well as the Q's of course, dispatched of any open gaps quickly and is now in what I would consider to be a low risk, high probability area to look at a new position or an add to. SQQQ confirms...

 TQQQ with a leading 2 min divergence, the green arrow is yesterday's add to entry after an entry earlier in the day, the yellow arrow shows the close yesterday, the gap is filled and the 2 min didn't move down a bit.
 
 SQQQ-the opposite of TQQQ also filled its gap and the intraday 1 min chart is negative at the gap fill.

 It's also negative at the longer term 5 min chart, a more important chart for the trend

 TQQQ, our long, has the opposite with a leading positive divergence.

Intraday on the TQQQ 1 min, as the gap was filled, it went positive, the opposite of SQQQ, thus this looks like a decent area to consider TQQQ long for a bounce move.


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