Q's Roll Into More Serious Correction

This is getting interesting now, isn't it? Today's decline in the Q's (Nasdaq: QQQQ) has sliced through near-term trendline support at 46.60, as well as the series of higher-pullback lows established since Tuesday's pivot low at 46.30 -- which has inflicted some damage to the near-term chart structure. The high-level consolidation pattern is busted, as the Q's roll into a more serious correction that projects next into the 45.80/60 target zone.