Market TAO Tues 7-28-09

10:15 et am XL sectors are all turning down and US Dollar is starting to rally ....SPY moving to r1 and tick - 1000

Exit Spy Puts 9740


Here is chart of the QQQQ ETF
I traded today .

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I am long QQQQ 3914 strong tick + 900

Range day market this Am QQQQ 3900 to 3840.. sitting on lower "T" support tick is neutral to a bit bearish ,,

Big up spike in US Dollar ....this could be the catalyst to turn the overall market down..... my QQQQ play will stop out at 3880

I don't like Market action for this QQQQ long will exit on next up tick 3910 to upper teens ..sectors feel like they are ready to roll down.

nice up tick!.. i am out of QQQQ 3928

just went short QQQQ 3945

i will exit QQQQ on next tick down to 3920 ish

I am out of QQQQ 3929 ,,,,, that was 2 ok ScalpTrades today and a Spy PUT exit turned out to be a good day.