SPY & QQQQ Trends

The markets are holding onto yesterdays gains and doing battle with the downtrend lines from the last 2 weeks. It is encouraging to see the 5 day MAs have flattened out and that there are 2 advancers for each decliner today. The primay trend remains lower but the short term timeframes continue to heal. 44.50 looks important for the Qs to hold above and 123.50 is an important level for SPY.