QQQ entered the gap shortly before the close last night & gapped down to the bottom at the open today, where a reaction is likely before the next leg down. However, my expectation is that any reaction is likely to be relatively minor & fleeting. Minimum & preferred bounce target ~390, max. bounce target ~393. 60-minute chart below.
QQQ 60m Dec 14th
Likewise, the odds are elevated for a bounce off this 15905ish support on /NQ although I still favor more downside whether we bounce here or not. 60-minute chart below.
NQ 60m Dec 14th