/NQ is still trading/holding at the aforementioned primary uptrend line off the June lows, a likely end-point for the current leg down with a counter-trend rally to come soon before the next leg down. As long as that support level holds, QQQ will trigger an objective long entry on a solid break above this 5-min falling wedge (& the comparable wedge on /NQ) with targets shown at arrow breaks & stops somewhat below today’s lows. 5-minute charts below.
QQQ 5m Aug 30th
NQ 5m Aug 30th
Of course, the measured target for both the bear flags as well as the Head & Shoulders patterns in the recent videos has not been met & the near-term trend remains clearly bearish with zero signs of a reversal yet. As such, any longs should be considered aggressive, counter-trend trades at this time.