Today’s action is encouraging, but the intermediate trend remains lower. If the QQQQ can hold here and confirm a higher low, there could be a late day push past 30 and make a run for the declining 5 DMA. It is still very diffiicult to trust the long side for more than a scalp trade.
![](http://1.bp.blogspot.com/_r_4bas-lh0U/SWzI7JV-0WI/AAAAAAAADhw/HpYQB4kMZ3s/s400/lhll.png)