Agreed. That certainly looks like a valid trendline with enough reactions. Will be watching that level for a potential break below, ideally impulsively, along with any other nearby support levels for a potential sell signal to start another wave of selling. Thx for pointing that out.

Yep, typo. Just corrected it to read 169.68 for the target on the official short trade for QQQ vs. 168.68. Thanks for pointing that out.

Good question & I just posted the following response to a similar question in the trading room (which can be viewed here: https://rightsideofthechart.com/activity/p/103943/#acomment-103959 ) but let me repost it here for Silver members without trading room access:
The near-term trend remains bearish for now so we are in a “sell the rips, cover the dips” mode or more accurately, “sell rips into resistance and/or breaks below support”.
As such, just pull any other recent 60-minute charts on SPY & QQQ and those former support levels that were broken should now act as resistance & provide objective shorting opps (depending, of course, on how one is already positioned.
For example, here’s my QQQ 60-min chart with QQQ currently backtest the downtrend line that was briefly taken out in Washington’s failed attempt to end the correction plus, QQQ is also at the 183.52 former support, now resistance level. As such, this is an objective level to short as would be a bounce up to the next resistance zone that runs from around 185.50-186.25.
Many ways to do that. For example, one could add a partial lot here at this first resistance & a 2nd lot if/when QQQ rallies to that next R zone or hold off if already near a full short position & wait for either a bounce to that next R zone or a reversal & break below yesterday’s lows (support).
https://www.screencast.com/t/zs05zjTh0AA