Nasdaq is down 1.5% today, with QQQ at $256.50. As the chart below indiactes, a break-down in QQQ below about $253 will bust out the Wave 5 trend regression channel and likely lead to a much more serious decline. If the channel holds, I'm counting on TSLA to lead a charge back up. For now, look for an acceleration down should QQQ break below $253.00
