If /NQ took out the Nov 20th reaction low anytime soon, it would still have bullish divergences on the 60-min chart as well as the daily time frame unless it made an unusually large drop.
I also let mentioned in this morning’s video that we could see the divergences on the QQQ daily chart taken out with QQQ dropping too much but we would then have potential divergence on all of the other, more diversified index-tracking ETFs like SPY, DIA, MDY & IWM.
Bottom line is that we may or may not have another 3-6% downside in the market but I do believe that the R/R is starting to shift from the short side to the long side at this time.

So if the NQ takes out the prior low that would invalidate the bullish divergence?

I could flip a coin as to whether or not the market will rally tomorrow on the Brexit deal (which still has work to be done to be finalized) or for any other reason(s). The very near-term direction of the market indicated by the near-term charts right now is somewhat obscure to me but those potential bullish divergences on the Nasdaq, if they do play out before being negated, will probably play out for a rally of at least 5-8% & quite likely more.

I can say that with the intraday price swings that we’ve seen lately it wouldn’t surprise me in the least to see a decent rally take place sometime between tonight & before the close tomorrow (Monday), even if the market closes red, but I just can’t make a strong enough case to bet on it. Wish I could give you a fairly firm opinion on what happens tomorrow but at this time I can’t.