Probably just an end to first impulsive wave - you gotta be bullish here considering how well the market has been "climbing a wall of worry" I am also short QQQQ via a hedge and will likely cover mid-morning tomorrow if we see support at 38.75 Are your QQQQ candlesticks 1 hour measures?
I'm just looking at the daily chart of the Russell and I believe we can see a cup and handle forming.
GREAT Charts ! WOW - you are looking for a place to short and I am looking for a place to cover my synthetic short. I guess thats what makes markets. Based on your chart today, and since there might be some fireworks w triple witching tomorrow, I think I will try to cover at the 38.75 - 38.85 level tomorrow - wish me luck. Any thoughts on how past triplw affected the QQQQ?
Lots of contracts around $39; would like to se it dip below $38.8, then uptrend. Most likely scenerio , even if dips below 38.8; looks bullish above $39.0/40.0+, and headed that way. Lots of support @38.5 & 50dma also
triple witching day's are struggled in a rangebound..... Think we may have a 38.8/39.2 range tomorrow... we will see....
Murray and Rolo - I think you are both right. Plan to lift my short hedge on QQQQ tomorrow and change my trading strategy altogether. Am thinking on day/swing trading GOOG instead of my failed long short hedging using RYVNX. Rolo - where did you get the QQQQ 5 min chart? Can you do same on GOOG?
You can get that kind of charts with realtick or tradestation. the rest of the services around (qcharts, esignal and something else) didn't meet the quality of those 2. I'll be uploading something on GOOG because i think the charts deserved it