So where do you see SPY/QQQ open tomorrow, below 300 on SPY and below 234 in QQQ?

This one is really tough, especially since occurring near close. I really don’t want to close out my shorts (even though I am active)- that’s a pretty well defined trend line that I’m sure a lot of traders are switching long for. However, given the absolute ridiculousness of the market lately, I think the overwhelming bullish sentiment will backfire and we’re going to gap under this pretty hard tomorrow (I don’t play futures). I’ve taken 30% profits, but have not switched to long and will keep the rest of the shorts until I can see price action tomorrow. Good luck everyone.

I have a better read on /SI silver futures than SLV (ETF) since there are more candles with the nearly 24 hour trading of the futures contract. /SI continues to backtest the uptrend line from below while dancing on the 17.726 support with a sell signal to come on a solid break below that level. That basically correlates to a solid break below the 16.38 level on SLV. I favor that bearish scenario with my targets at the arrow breaks, especially with the $USD breaking out today.

Do have any sort of target or destination you might be looking for to sell your long position? 1% or so?

Yes. QQQ is coming up on first target, blue uptrend line support, where a reaction following the initial tag is likely. Here’s my 60m chart. We’re almost there now & /NQ ($NDX futures) are coming up on the 9595 support level which I expect a bounce off the initial tag as well so if you plan is to take the quick buck on a short trade & maybe recycling back in after a bounce, I’d do so here or maybe place a tight trailing stop & reverse order to continue to ride the Q’s down & automatically close out the position (and buy into a long, if you do a stop & reverse order vs. just a trailing stop).