The rally in SPY has been checked just shy of the downtrend line & 250.50ish resistance level (T1 area) due to QQQ running into & so far stalling out at its comparable trendline. We could get a late-session ramp into the close to hit the trendline and/or 250.50 level but they’re just as likely to dump it into the close so best to tighten up stops if still long for a day trade. Unfortunately, I have to give coin-toss odds to either scenario. SPY & QQQ 30-minute charts below.
Late-Session Market Comments
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