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QQQ/TQQQ Update

QQQ has just matched it's earlier highs from the pre-market session today and has once again, met the price projection from this potential ABC pattern. So we've already had the typical OpEx week ramp so far this week, the big question with the trading week only 1/2 way over is: Will the ramp continue into OpEx at Friday's close or will this week's rally get faded by the end of the week? Note: Stops for the active TQQQ short trade remain on any 60-minute period close above 114.55 & the downside price target remain as previously posted.

QQQ 5 minute 2 Nov 19th

QQQ 5 minute 2 Nov 19th

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Nov 19, 2015 1:21pm|Categories: Completed Trades - Short, Equity Market Analysis|Tags: , |2 Comments

2 Comments

  1. jupiter November 19, 2015 2:50 pm at 2:50 pm

    Would you say that the IWM could influence the Q’s at this point?
    Thank you.

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  2. rsotc November 19, 2015 3:12 pm at 3:12 pm

    jupiter, while that’s possible, I don’t think so. The Q’s are and have clearly been the lead dog pulling the sled throughout this entire bull market and even off the August lows. That’s one reason that I’m more concerned with the technical developments on QQQ instead of the small & mid caps right now although IWM may very well be trading well off support & resistance lately… I just haven’t had the time to focus on the small caps lately but will try to put up a chart as soon as I get the time.

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