What Now For The QQQ? Simple Trading Update As of 18 September 2015 Close

QQQ W As of 18 September 2015 Close

Price broke through the top of the Value Zone ($106) nicely, but last week’s candle was a very negative 1 bar pattern… Look for confirmation of that pattern on a break below it’s low at $104.85 this week.  As the note on the chart says, I would avoid technically allowable longs in light of the very negative price action and look for downside price action to reassert itself now that we have gotten through the long awaited FOMC meeting and announcement.  Obviously if price exceeds last week’s high I might have to reassess.

 

KIS,

The Trader

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