For the second day the Q's have been the laggard, I think the only thing that can change that is AAPL and I had an original trading plan for AAPL, "
Plan your trade, trade your plan".
Looking at the QQQ, it's in a very dangerous downside spot, but I think a little patience here won't kill anyone.
QQQ is forming a daily Hammer (bullish) candlestick and it's due for rotation as TECH is as well. It looks to me as the QQQ will close on higher volume today than yesterday making that hammer 3x more effective and probable for the Q's to rotate in. I think their best chance is an AAPL pump and after 2 days of lagging, I think the invisible hand has probably come to the same conclusion.
Although the yellow box in QQQ is an absolute short sellers dream, we still want the best entry and lowest risk (it sits on top of a broadening top- a head fake move.
Unless AAPL's charts just can't be ignored, I'm going to play the plan and wait for a move above the triangle's apex or above, that's where I want AAPL short, where the risk is worth the reward and that's also where the Q's get interesting. So for today, patience.
No comments:
Post a Comment