So far today, the SPY has reversed just shy of the top of its resistance zone (61.8% Fib & top of the 5/27 gap). With the intermediate-term trend indicators on the US broad market still bearish & plenty of downside to my next targets on the SPY & QQQ, it appears that today's rally offers an objective shorting opportunity with stops somewhat above the top of the resistance zone. We have a similar story on the QQQ, with the Q's slightly overshooting the top of its comparable resistance zone. I have just added to my QQQ short position and will set my stops today's highs after the close today just in case they decide to ramp the market into the close. QQQ has the next decent resistance at 109.45, where I would not be surprised to see the markets hit on or before the today's close.