Q's Are Making the Move

Remember, it the QQQ and DIA that are close to resistance and the two averages I've been expecting a breakout from. This breakout will almost certainly be a head fake and give us a good indication of where / when the reversal will occur.

The Q's have actually made it through resistance.

 DIA's resistance/target

 This bear flag is a good head fake set up that could help propel DIA through resistance on some intraday short covering.

 The Q's daily resistance/target.

 Here's the Q's are breaking through, resistance is at the $59.36 level, the Q's high for the day is $59.38, although I'd expect a stronger breakout.

 QQQ accumulation this morning on the 1 min chart and confirmation since.

The bigger picture for the Q's is bearish as seen on this 15 min chart.