Chart of the day (previous was sent by mistake)

QQQ is breaking below the strong short-term rising trendline resistance 400. QQQ is being rejected by the medium-term rising channel resistance 415 which is also the short-term fifth wave infliction point.

A rejection here and a break below 395 is confirming that the five upside waves upside are finished. A confirmed break below this level will open a downside reversal to 368 level which is the ultimate support for an upside extension to be left as an option. A break below 368 will lead to a complete bearish reversal.

Short-term short trades could be opened here with a stop loss above 410. Long trades should be opened only upon a confirmed break above 410. I am inclined here to see a deeper pullback into 368 and a possible complete bearish reversal.