
I bought 300 shares of QLD this morning on weakness, at $77.55. I highlighted this setup in last night's trade report:
There is less confusion in the Qs than SPY. The July accumulation zone was marked by strong volume and positive divergences in RSI and stochastics (we noticed back then and traded it). Q then raced higher and mounted both moving averages before pullback back to support. Thursday it printed a hammer tail at support, which was confirmed on Friday. The pullback created an oversold stochastic that is turned up. This is the type of healthy price movement we want to see in a long setup. I may enter tomorrow.

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