Markets followed thru on yesterdays decline but with a little conviction and we are entering support zone on DIA, SPY and IWM. Q's breached thru the support and closed below 61% retracement level. Q's may be well on its way to test the Jan 23rd lows. Againg XHB, XRT and XLF along with Semis led the decline. The unavailability of NH_NL to expand to downside yesterday was cause of concern for bears. We will see if it expands today or not. I have a long term position in QID and I will see if we can breach the lows on Q's otherise I will start contemplating closing my QID position.
We shorted AMAG today once it broke yesterdays low after breaking yesterays high. We went short AMAG at 54.37 and covered half of our position at first target of 53.5. Our stop is above todays high and we have an open target around 48.
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