Thursday, January 31, 2013

QQQ Update

At last look the weekly Q's that expire tomorrow are down-4.58%, that's a portfolio loss of less than 1/10 of 1% so it's not a problem in that manner.

Here are the charts.
 As the Q's passed above the 50-bar 5 min chart, check out the resistance, every candle under the red line has a long upper wick, that's resistance and then back under the moving average.

 1 min chart, officially still positive and in line, but volatile.

 2 min still positive, suggesting overhead is available unless something happened that we don't understand yet.

 The 5 min chart, ugly overall, but still ok for this short term trade.

At 10 mins, nothing but trouble, there is still the gap from the head fake move, that's also where the distribution picked up as normal.

I'm going to look around and see if I can find anything

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