Monday, July 7, 2014

QQQ Looks Interesting

We had several posts for an AAPL call trade for an upside move I've been expecting. Intraday there's some weakness starting to build in to the AAPL move higher, we'll have to see if that migrates to longer timeframes, but it seems to be effecting or at least not helping the Q's which are looking interesting up here for a fade trade, maybe puts or SQQQ long (3x leveraged QQQ short).

 AAPL 1 min intraday losing a little steam intraday, this has not migrated to the 2 min chart, but I wouldn't expect that with the 1 min just starting to go a bit negative.

 2 min chart still in line...

AAPL 15 min accumulation at the head fake move (yellow)/ stop run.

There appears to be more upside in AAPL, we'll have to see how the intraday divergences progress. As for the Q's...

The Q's were already going negative last week (1 min intraday).

And the 3 min chart negative at the area I'd call a head fake move above a channel or flag-like price pattern.

I may wait for a 5 min chart before looking at anything too serious here as the BTD mentality is rampant this morning thus far.

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