Still very early as it is not uncommon to see support & resistance levels overshot immediately following the open on days with very large gaps, only to see those levels regained once the order imbalances subside but so far, the SPY, IWM, & QQQ all gapped down right on or below key support levels that I was targeting and have moved lower, now comfortable below those levels.
Remember, the 5-minute chart pattern breakdowns were the catalyst that sent prices down just enough to confirm those negative divergences on the 60-minute charts, hence, painting an even more bearish picture as should those 60-minute divergences play out, which I don’t see any reason why they shouldn’t, that additional selling will very soon lead confirmation of the negative divergences that I recently highlighted on the daily time frames. Positive & negative divergences on the daily time frame, much more often than not, lead to trend changes that typically last for months, not day or weeks. I’ll post some charts with another update asap.