Market Pivot

Action in the markets may seem a bit subdued, but we are actually nearing an important test in several averages including the Q's and the SPY.

 QQQ nearly breaking out of the range.

 The SPY is similar, I've drawn the trendline the way I did because the 5/25 breakout was confirmed to be a false move.

Last night I showed you the correlation between the Australian Dollar (FXA) and the market and how the FXA often leads the market. Note FXA gapped up today and is moving higher currently.

This potential breakout will be important to validate or recognize as a false move.