QQQ Weekly $67 Calls Closed

I'm happy this morning, not only did we get the open I drew in yesterday's Market Wrap

This is the actual chart from last night with what I wanted to see today starting with a gap up and finishing with a lower close than yesterday to confirm this 3-day downside reversal pattern.

I also got the QQQ pick right over the SPY easily and closed the Call position that was open for all of about 1.5 hours for a 25% gain.

Cost=$.89/$89 and closed at $1.18/$118= +24.5%

Not bad for a quick spec play, while looking for something to happen on the open.

I don't see much momentum left, even though it is early...

This is the concept of the open drew in above from last night's Market Wrap post, the open gapped above yesterday's close, higher would have been better, but the intraday move can leave a long upper wick on the daily candle which is just as good, now to finish the candle envisioned yesterday, we need the close to be lower than yesterday's close, we might even get a Shooting Star Candle, but 1 bridge at a time.

 The 1 min QQQ 3C chart was in line, but I didn't see a high probability of extra momentum soon enough to beat the time decay, but either way, the plan was to close the trade early and really just try to take advantage of a gap up open.

 There's no confirmation at ALL in the QQQ 2 min chart.

The positive 5 min that inspired the QQQ weekly call position is now turning negative, so far, so good.