here’s the SPY 3 minute chart showing a similar pattern to the QQQ chart below. keep in mind that although the odds traditionally favor an upside break to this continuation pattern, my bias is to a downside break this time around. i might be wrong so my plan is to add more shorts only if these patterns break to the downside (i already added some earlier with those 4 hour index chart posts). if they break to the upside, i will sit tight for now and re-assess things depending how the markets trade tomorrow.
