The case for a rally continues to firm up with the stock index futures continuing to rally in the overnight & early morning session following the 60-minute bullish divergences & yesterday’s successful defense of critical support. Both /NQ & /ES just hit resistance levels where the odds for at least a minor reaction is likely but as for now, minor zigs & zags aside, my expectation is for a continued rally up to 6853 on /NQ (Nasdaq 100 E-mini futures) and 2696 on /ES (S&P 500 E-mini futures).

Likewise, following a minor reaction around the 267.24-268.40ish level, SPY is likely to continue to rally up to the 270.36 area while my near-term price targets on QQQ are 166.00 & 168.50.