Should QQQ continue about another 1% or so lower before reversing to form the RS of the IHS pattern outlined earlier, that would mesh with this scenario of the SPY (S&P 500 tracking ETF) backtesting this 15-minute downtrend line before resuming the near-term uptrend. Such a backtest would also provide an objective long entry with a stop somewhat below.
SPY 15-min April 6th