QQQ daily uptrend line starting to crack but not yet very impulsively & still over 2-hrs before the close for a stick save although not looking good for the bulls right now.
On the 60-mintue chart below, the bears need to take out this uptrend line + the 186.25 support while the bulls need to take out this downtrend line + the 189.40 R level to spark a rally & foil these intraday trendline breaks on the daily charts.
As with the SOXS/SOXX trade setup, QQQ is on watch for another official short trade following the recent very slight & brief stop-raid/clip on the previous official trade. Price targets would remain the same as the previous trade, which I know quite a few here still have after giving a little more leeway on the stop. If I add QQQ as a new official short trade soon, I may modify the stop & the suggested beta-adjusted position size would remain 1.0 (or 0.5 if using QID, 2x short ETF or 0.35 or so if using SQQQ, 3x short ETF).