SPY/QQQ Plan Your Trade for 3-6-25: Breakaway Pattern

Today's Breakaway pattern suggests the SPY/QQQ will attempt to move away from yesterday's open/close price range.

Given the fairly strong downward pre-market trending in the SPY/QQQ, I'm cautiously optimistic we will see a fairly strong MELT-UP in price related to the recent support/rejection levels near 575.

I'm urging my followers to be cautious of the first 30-60 minutes of market activity today. Jobs data (or other data) could disrupt price after the open and I believe price will be very volatile in the first 30-60 minutes of trading today.

In other words, price may try to SHAKE-OUT early positions with wild volatility before settling into a MELT-UP or MELT-DOWN trend.

As I shared in my video, today's BreakAway pattern could break upward or downward. I believe the upward trend potential has about a 60-70% chance of happening IF the 575 level holds as support. If not, then we will probably break downward.

The fact that BTCUSD is holding up quite well suggests the SPY/QQQ may actually MELT-UPWARD. Again, we need to see how things play out in early trading today.

Gold & Silver are consolidating into a range which may continue over the next 3-4 days. The current bias for Gold and Silver is an uptrend. So, I do believe metals will continue to appreciate throughout this 3-4 day consolidation phase.

The only reason I urge traders to stay cautious for the first 30-60 minutes is because of the Jobs data and how the markets may react to news items. You can't kick the markets to go in a certain direction.

So, often, it is better to let the morning SHAKE-OUT happen, then wait for more clear trending to setup.

Get some.

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