The QQQ was an Intra-Day Reversal on Wednesday. Unless there was an increase in volatility, back-to-back Intra-Day Reversals were unlikely. The QQQ reached the MLS1 at 305.71, around 11 AM. The ETF was then range-bound for the remainder of the afternoon. As it traded between the ML1 and the Downside Limit, closing just above the Open.
The SPY reached the ML1 at 368.03 shortly after 3 PM. It’s not likely, to get a move to an extended level before the end of the day. Barring, a news-related move. The SPY then retreated to the Downside Limit at 366.00 and closed just below the Open of the day.
The DIA did not reach any IDMM-HP levels during Thursday’s trading session.
