not really much to report as the Q’s continue to struggle under the T1 level (now resistance) since recently gapping below it. i’m sure AAPL will get the Q’s moving one way or the other tomorrow and just keep in mind that the initial reaction to AAPL’s earning release tonight and into tomorrow morning, may or may not be the direction that sticks.
sometimes we can see a big after-hours pop or drop on a market moving report like this, even one that carries over into the next day, causing a rally or sell-off in the markets, only to be reversed hard shortly thereafter. my point is not to confuse or play both sides of the coin here, just to caution that we may see some difficult-to-trade volatility tomorrow, they type that runs the stops on both sides (longs and shorts) before the market takes off in whichever direction that bigger picture market dynamics (true underlying buying or selling pressure) dictate. personally, i am using the fact that AAPL has now hit the top of the T1 area today to lighten up on a portion of my QQQ short to help avoid to be caught too heavily on the wrong side of a gap tomorrow. updated 4 hour QQQ chart.