kill for 7/25/14 was down -0.60 to 129.43. That puts the HEQ4 futures at a discount of 5.65 to the index. I'm suspecting the QQQs will find it a bit difficult to drift much lower until more weakness shows up in the index which seems to happen day-after-day.

I have made a long QQQ scalp and am trying to buy again at 123.35. The hog market seems to be a bit quiet today.

Best wishes,

dhm