As suspected in yesterday's post, the pullback proved to be just a temporary speed bump. To prove the point Thursday's market produced a nice little nugget . . a picture perfect low risk VIXEN setup at 11:50 on the Qs. Virtually all the technical signals were screaming BUY . . the hairy bottom at the open, the 8 hi/lo channel cross, the parabolics BUY signal, the mid pivot breakout, the 3SMAs slope and the 45 degree VIX cross. This is as good as it gets amigos and if you aren't working these setups you're leaving some easy money on the table.
This trade produced a $.22 gain in 75 minutes . . almost half of the Qs current ATR8 of .55.
And, if you had any doubts about the possibilities for the trade at 11:50, a quick look at the NYAD should have convinced you that the trend was clearly up.