QQQ shows bearish consolidation after six days of diagonal decline; expects stabilization or potential bounce before further downside.
BearishHe framed it in days
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Verified InvestingPublished Aug 26 · 2 passages
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Into the queues, you can see here, too, much like on the S&P 500, didn't really do too much today. It did finish up .09% but really just kind of closing in line with price action yesterday.
Now, the queues are starting to start to form a little bit more bearish consolidation. The last six trading days or so have been diagonally moving down. This needs to end up stopping, put in some sort of consolidation, and then it can make another leg lower.
Generally, the decline movement down ends with price action actually bouncing and going up. So, a stabilized decline would be better with some more sideways chop. So, we'll see if we get that in the coming days on the QQQ.
What this channel has said about $QQQ
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2026-08-31Bearish
So, let's start with the S&P and the QQQ today. They're down, right? S&P and Q's are both down, but I want you to pay attention to something.
Quote at 00:46 ›2026-08-26BearishThis one
Into the queues, you can see here, too, much like on the S&P 500, didn't really do too much today. It did finish up .09% but really just kind of closing in line with price action yesterday.
Direction flip
2026-08-24
And up next on the Nasdaq 100 with the QQQ, you can see price action putting in today on a daily candle a close underneath this big green candle here on August 4th, so that's one candle unwinding a lot of that price action. Two candles with a closing beneath today's low would increase probabilities of us coming down here and tagging this horizontal support trend line. Now, of course, we're going to be very close at that point, but we keep on increasing probabilities with this movement that we're seeing coming down for the Qs. This is where I anticipate a near-term bounce at $695.25 on the QQQ.
Quote at 02:47 ›