The expected pullback off the 166ish resistance level in QQQ and SPY 267.24-268.40 resistance zone (where SPY reversed right around the mid-point early today) has likely nearly run its course with the next leg up to the 168.50ish level on QQQ & 270.36 on SPY to follow soon. I’d imagine most market participants are looking for a backfill of today’s gap while my guess is that the market won’t give them what they want although should QQQ and/or SPY backfill today’s gaps, that would provide another objective long entry with a stop somewhat below. Previous & updated 60-minute charts below:

I also want to be clear that the market is far from being out of the woods just yet, as the intermediate-term trend remains bearish & the major indexes are still precariously perched above major support. As such, QQQ & SPY remain unofficial trades at this time but might be added as official trades if the charts continue to firm up this week.