2 Day VWAP & 50% Retracement
The Qs have dropped down to the 2 day VWAP on volume which is significantly less than it rallied on. The market is also just above the 50% retracement of the Low to High from yesterday. This is only a level of POTENTIAL support, not a level to buy. When markets reach a potential level of support the correct action is to switch to shorter timeframes to look for evidence that buyers are taking back control.