NQ (Nasdaq 100 futures), ES (S&P 500 futures) and SPY (S&P 500 tracking ETF) are backtesting the recently broken 60-minute uptrend lines from below with QQQ gapping back above its comparable uptrend line.

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We have somewhat of a mixed bag as SPY is actually a hair above its trendline but we have a good idea as to whether or not these key large-cap indices will be rejected off these backtests or not very soon as trading normalizes after the first 30 minutes or so of trading. SPY also has the fairly significant 277.92 resistance just overhead to contend with as well if it is able to print a solid 60-minute candle back above the trendline.

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