It’s Early

to call for inverted head and shoulder patterns but they could be developing on the 30 minute timeframes in the SPY and QQQQ. The key resistance elvels are 142.50-142.75 and 48.50. If the market can take those levels out there could be some decent upside follow through.

Notice how the sellers showed up at the declining 5 DMA.

BTW, I like Shane’s NEW SITE