A couple of potential long entries on the higher time frame, but with fairly small targets
QQQ only had a 15-cent target and the primary objective was achieved. A realistic short trigger would occur if the hourly fast line rolls over and goes negative at this point (same goes for other three indexes as well).
IYT - watching for the potential for a 3d criteria long entry set up on the daily. Today's hourly target fell short of the $130.48 target. Watching for a pullback in the hourly time frame 3/10macd fast line and a continuation (tick back up in the fast line, which would be a 3d criteria setup on both time frames) for a long entry that would set up the daily 3d criteria follow-through. Failing $128 would likely invalidate the setup. May not set up in either (for a long OR a short if it rolls over) until early next week.
XLF - could be telling. If the Daily fast line goes negative things could get messy. Anticipating that occurrrence would be the hourly time frame 3/10macd fast line ticking down from here (4c continuation).
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.