QQQ has been trading above the 179ish support most of the day after /NQ hit & reversed off T1 (with QQQ reversing a hair shy) with 45-minute left in the trading session, I am leaning toward a rallying into the close up towards the T1 level with the downtrend line also likely to be hit today or tomorrow although a solid break below the 179 support could usher in a wave of late-session profit-taking.
QQQ 30m 2 March 17th
SPY continues to struggle with the 250.50ish resistance level with the 260.90 + downtrend line targets still a potential target before the close today if we get a late-session short-covering rally.
SPY 60m 2 March 17th
The 7293 former resistance level, now support level has contained the pullback on /NQ following the reversal off the initial tag of T1 earlier today: Bullish if that holds, bearish if taken out with conviction.
NQ 60m 3 March 17th
Bottom line: I’m leaning towards the near-term bullish scenarios (more upside today and/or tomorrow towards to next price targets) but certainly can’t rule out the possibility that the market could get hit with another wave of selling in the final half-hour of trading today. As of now, the most significant support level below is that small triple-bottom support on /NQ around the 6935 level.