Things seem reversed these past two weeks; The selling is choppier than it was a few weeks ago, and the rallies are sharper. The Q's are looking weak here in their attempt to test the 50-day EMA, it looks (IMHO) like the probability is higher for a gap fill (to the downside) tomorrow than a continuation to the upside.Here was my perspective on QLD today:
15-minute chart (indecision in this $27-28 range)On the 5-minute day-trading:
However, the U.S. Dollar Index has been in a sideways consolidation pattern (as well as bearish momentum) that's also looking like a Head and Shoulders pattern which could bode well for stocks (and commodities?).
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
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