SPY & ES (S&P 500 E-mini futures) are currently backtesting the recently broken minor uptrend line from below on these 60-minute charts following the recent bearish crossover on the daily PPO of SPY.

QQQ & NQ (Nasdaq 100 E-mini futures) continue to move lower since putting in the most recent divergent high on the 60-minute chart with the PPO on NQ rolling over as the NDX appears poised for a breakdown below this megaphone pattern (aka- broadening wedge pattern) soon unless the markets can build on today’s early gains to undo some of these recent bearish developments.

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