This bounce off the 282.25 support level on SPY is likely to be contained between the 284 & 285 resistance levels (bottom & top of gap) while anything much more than a backfill of that gap would open the door to new highs in the S&P 500.
SPY 60-min Aug 13th
Likewise, this bounce off the 180ish support level on QQQ is likely to be contained between the 181.85 & the 182.66 resistance levels unless the 60-minute trend indicators can remain bullish with a successful backtest of the zero line from the PPO signal line (9-ema).
QQQ 60-min Aug 13th
Comparable resistance levels are highlighted on the 60-minute charts of /ES (S&P 500 E-mini futures) & /NQ (Nasdaq 100 E-mini futures) below:
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- ES 60-min Aug 13th
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- NQ 60-min Aug 13th
