well, not really much to update.  the QQQ continue to re-test the broken channel from below while it has actually made a new high in doing so. the SPY still remains below it’s recent highs after breaking down from it’s rising wedge and here’s something that i should have looked at before… the NDX equal-weighted index which as a similar uptrend line to the QQQ and SPY, yet has not broken below that trendline as of yet.  i am somewhat surprised of the resiliency of the market since the breakdown of the SPY and  QQQ 60 min patterns and will continue to monitor but still think it’s best to keep things light for now.  as far as the active trades go, most longs are naturally doing with only a couple of the short trades, such as BIDU & AMZN showing gains at this point.  as i posted last night, i expect that volatility will start picking up and remember, that cuts both ways… up and down.  here’s those 60 min updated charts.  as far as the bigger picture goes, same story as the SPX remains at +/- key downtrend resistance on the weekly and monthly frames.