A squeeze setup had developed in the Qs. It will trigger when the Bollinger bands move back outside the yellow Keltner channels. The direction of the trade is determined by the direction of the price when the trade triggers. The DI+ & DI- indicators can be an aid to determining which way it will go. At the moment it would be expected to breakout long, but things can change.
I expect the Qs will remain in a tight range the rest of the week and a breakout will occur next week. The action today may have been a precursor to a coming selloff. Commodities were hit the hardest today and this may be signalling what to expect with equities.
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