$QQQ Getting Over Sold?

QQQ I am stalking a bounce on the Q’s. From an intraday high (all time high) to an intraday low on this chart is about 6.2%. I would expect at least a dead cat bounce in the short term, but the market may not deliver for me. Having said that, I have an alert set on this 30-minute chart on the Downtrend line. “If” that triggers, I will go to a 5- or 10-minute chart to see if there is a good risk reward entry. And if I take the trade, it will be meant to be a day trade (of which I am not a fan) but it could turn to a swing trade “if” it gives me at least a 2% cushion.

I know I have a lot of "ifs" on this one, but isn't that the way it is?

I had posted another chart on the QQQ index with a link below. I had said in that one that a pullback to the 510 “area” would not negate the longer-term uptrend. But one must be open to all outcomes.