$QQQ It’s been a while—Nasdaq is squealing again. First, look at the weekly chart: The price broke below the lower Bollinger Band and continued downward. Even when QQQ breaks below the lower Bollinger Band, it has always retested the weekly 50 MA (purple dashed line) in the following week—even if it makes a new low. If next week closes above the 50 MA with a bullish candle, it could signal the end of the correction (if it closes above). But if it fails to break above the 50 MA and instead consolidates sideways for about two weeks, further downside is likely. Looking at the 12-hour chart (second image): This area has now become a strong resistance zone. If you’re confirming a trade, I believe it’s better to stay on the sidelines until the 12-hour candle closes above the yellow band. Even when extending the 12-hour chart (third image), there’s still room for further downside. Given the breakdown below the swing low and trendline break, there’s no need to rush. If another sharp drop occurs early next week, consider building a short-term long position targeting a retest of the weekly 50 MA from within the yellow box shown in the third image. Summary of Trading Plan: - If the 12-hour candle closes above the upper band, wait and consider going long. - If additional downside occurs early next week, go long near the lower band, with take-profit set at the retest of the 50 MA. - If no clear price action emerges, stay in a no-trade zone and wait.