Flood of US economic data after the long weekend. Greece is in serious bankruptcy 'do-do' so watch out.
US data today may sway markets. We are headed lower in the PM. Watch for a possible bounce at the support.
Still in this perfect descending channel...but now getting stuck in this wedge.
Thoughts for next week? We lost a little momentum into Friday's close. We need a catalyst to test resistance and all time highs.
I just close this short term position. The pull back should continue 1 day or two here,but we catch our short term target.
ETFs for Tomorrow: Start long position on SQQQ
Currently trading within a predictable range, what will really rock the boat down? Grexit; FED; oil dumping? Anyway, technically its a good low risk reward entry here. SQQQ Target 27.57 (If S&P gets crazy enough, you may wait till 33.13 to take profit)
Trade triggered if QQQ closed below 91.55
Reached first support/demand zone, after kissed good buy the lower boundary of the wedge. Q's also at support/demand zone