Both QQQ & SPY are now at the next bounce targets covered in the recent 60-minute charts, thereby offering objective long exits & short entries, including any momentum-fueled overshoots of those levels, which are likely. My short ‘scale-in’ zone to close out longs & start adding back short exposure remains from QQQ 178 up to but not above 183.

The first chart above is the 60-minute chart of QQQ posted on Wednesday predicting the pullback off the initial tag of the 176.74 target followed by another thrust up to the 179.73 level, which has just been hit. QQQ is still under consideration for as an official short trade but with the upside momentum still strong, I prefer a scale-out of longs/scale-in to shorts approach at this time vs. a hard short although I personally I moved to a net short exposure just before the close yesterday & will continue to add back short exposure on strength or weakness going forward up to but not above my max. bounce targets.