Following the recent breakdown & backtest of the minor (smallest) bearish rising wedge pattern, QQQ moved lower & broke below the secondary uptrend line with a (so far) successful backtest of the primary downtrend line off the late 2021 highs (yellow line). From there, QQQ had a minor bounce which was capped by the dual intersecting uptrend line (larger wedge) and 330 price resistance levels.
QQQ 60m Aug 18th
From here, the next sell signal & objective short entry or add-on will come on a solid break below 323 & the downtrend line (i.e.- failed breakout/bull trap). Should we get the aforementioned sell signal (quite likely IMO), the arrow breaks denote likely reaction points/price targets for the QQQ swing short trade on the 60-minute chart above.