QAT Systems, LLC

Confirmation Leads to Higher Close in SPY and QQQ

The SPY and QQQ both confirmed a Long Position on Thursday. The QQQ moved to the ML1 (292.11) quickly, reaching the level before 10 AM. The QQQ continued higher and reached the ML2 (294.56) and closing above that level. The SPY reached the ML1 (387.84) at a much slower pace. The SPY continued higher but did not reach an extended level.

SYMBOLLastOpenHighLowML 1MS 1DirectionCurrent PositionTrend
SPY388.99385.12389.83383.27387.84382.4LONGAbove ML1Long
QQQ294.98289.66295.7289.63292.11287.21LONGAbove ML2Long

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