SPY is still trading well below the recent bounce target/resistance zone (shaded box) in the pre-market session with just under an hour to go before the opening bell.
SPY 60m May 14th
The QQQ pre-market bounce is still below the most recent bounce target/resistance zone (shaded box) on the 60-minute chart with the PPO signal line (9-ema) backtesting the bull/bear delineation line from below.
QQQ 60m May 14th
Likewise, /NQ is still trading below the key 13285ish resistance following the recent 60m divergent low. Will this bullish falling wedge breakout prove to be the real-deal (green arrow) or a fake-out (false breakout-red)? Odds still favor the latter vs. former IMO although those odds would gradually begin to shift if & as each of the nearby overhead resistance levels on the S&P 500 & Nasdaq 100 are taken out.
NQ 60m May 14th