So we're sure to test the lows tomorrow, right? Judging from the performance of the bulls over the past two weeks (very weak rallies), we could be in trouble before the week ends (unless you're long QID, SDS, DXD, TWM). We'll either test the lows and find some buyers or fall through the floor again.
Here's QLD today on above average volume.Tomorrow ought to be a doozy, one way or another.
Here's the Daily on QLD. The trend is in place and downside moves certainly bring in more volume.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.