one more lower low first i think,

Good question although technically speaking, it wouldn’t be the start of a new uptrend rather just a continuation of the existing uptrend following a pullback/correction. If I had to assign odds that the stock market will rally from here to take out the previous highs & much beyond, I would guess around 35-40%. I might normally have assigned lower odds (which means higher odds that a major top is in) but there just isn’t enough technical evidence just yet.
While my convictions on whether a major top was just put in or this was just a correction (which is now over) aren’t high, I can say that I think it is prudent for both those longer-term bullish & those expecting much more downside to come to keep things relatively light at this time & see how the charts develop this week & next.
Finally, for those that believe that this was/is a correction & the market is headed much higher in the coming months, you can also go long here with the appropriate stops in place below & let those positions ride. Ditto for those bearish although I’d prefer to see a little more upside before scaling back into shorts.

Yes, looking for a bounce up to the 505-61.8% Fibonacci retracement levels or anywhere from around 280.60 up to 293 (and a backtest of the primary uptrend line) on QQQ.

Right now QQQ is about 2.5% under that trend line.

I think Randy commented yesterday if the bouncing ball closed above the trend line ($285ish) then continues above that (along with NQ,ES and SPY) that would all be extremely bullish!

Hmmm, yesterday QQQ closed at 269 and now it’s at 278 …. I’m no Rocket Scientist but I would think the bounce is happening right before our eyes! Even LaBron James, who clearly is no Rocket Scientist, does know a bounce when he sees it!

Could you please clarify what you mean? This is an update & it does project what I believe is the most likely scenario going forward. Were you referring to another security? LMK, Thx.