The market gapped down to day slightly and imediately filled the gap but continued lower setting the low of the day at 10:30. The market rallied and set the high at 11:30 where the market drifted sidways for most of the rest of the day. The daily chart shows an inside bar day and the the hourly chart showing price action in a sideways pattern.
qqq
If we happen to gap over 66.80 area (1) I would expect that we will break through the high of the previous day at $66.92, I would look to buy the first 5 minute buy setup that forms in the 66.75 area (1). If we open neutral, one could look for a buy setup near the $66.35 area (2). If we happen to trade through $66.23 area or gap through, this would be barish and I would look to short a 5 minute sell setup on a pull back to this area. On a gap below 66.23 you could short the first 2 or 5 minute bar with a target of 66.50 - 66.00 area.