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QAT Systems, LLC

Confirmation in SPY and QQQ Leads to Higher Close

On Tuesday, July 5th, the SPY and QQQ both had displayed trend confirmation. The Trend-Following filter on the daily and the ML1 Level both indicated a Long Day.

The DIA showed a Long Trend on the daily and reached the MS1 Level Down. The DIA later became an intra-day reversal. An Intra-Day Reversal occurs when a market reaches the ML1 and MS1 in the same trading day.

SYMBOLLastOpenHighLowML 1MS 1DirectionCurrent PositionDateTrend
SPY381.96375.88381.98372.9378.87372.89LONGAbove ML22022-07-05Long
QQQ286.96278.31287.08276.75280.76275.86LONGAbove ML32022-07-05Long
DIA309.71306.6309.76303.58308.89304.31REVERSALReversal Above ML12022-07-05Long

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