Along with the SPY, the Q's have fallen to support following the breakdown from the intraday bearish pennant pattern. Quick traders might chose to cover some short exposure & possibly even reverse long for a quick bounce while typical swing traders need not be overly concerned as the US indices are likely to continue lower in the coming days.

As an active trader, I just covered all of my index short & took a long position as both a hedge to my individual short positions as well as an attempt to trade a quick bounce (long TQQQ, stops just below the recent lows, target around the middle of those intraday pennants). Regardless of whether on not this bounce trade plays out, I will close it before the end of the day and most likely reposition short heading into the weekend.