This gap up to just below the SPY 289.90 resistance level with QQQ gapping up to the 186 resistance level offers an objective short entry for at least a gap fade/backfill & quite possibly more. 60-minute charts below.


Likewise, /NQ & /ES have also bounced back to the 7650 & 2895 resistance levels, also offering/confirming a short entry here with stops somewhat above (for a day trade, fade-the-gap trade) or somewhat wider stops for a swing trade targeting a much larger drop. While I favored a fade of yesterday’s gap, which didn’t happen, a fade of today’s gap appears even more likely IMO. This is also an objective level to add back SOXS (3x semiconductor short ETF) or an SOXX swing short, for those that were stopped out recently & have been looking for an objective re-entry point. Again, with the appropriate stops in place as the market can still break in either direction from this 3-week+ trading range.