Gentle cycle

A narrow range day for the Qs as it modulated PP to R1 for the day, closing on atypical meek volume and no clear momentum. Although the Qs closed above yesterday's high, the fact that it couldn't quite get through the R1 resistance on 2 attempts was suspicious. I was sorely tempted to sell some calls at noon, but stood back as the noon hour is notorious for low volume gaming and head fakes that can produce technically unexpected surge moves . . in this case I suspected a move to and through R1. But, I was wrong and the noon momentum carried through to the downside before reversing (again), right at the PP. With the wide range bar break through the channel and the parabolics lighting up at 13:50 I opted to sell the near OTM puts, again with the expectation that R1 was in the headlights. Alas, the last hour failed to produce a follow through and I closed the position for a modest gain right at 15:00 as the signal line turned down and the parabolics flashed a reverse. Considering that most Q cycles run 90 to 120 minutes, this one was rather brief at 75 minutes but I was glad to be out and flat at the close.