Weekly chart of QQQQ

We made a 'not-so-strong' bounce from the lower trendline on the weekly chart. So, this means we will be spending some more time down here, swinging from one side to the other.
The good thing is that last week's low should be the low for this market. We are going to have a nice bounce moving forward to the upper trendline and then where we go from there is anyone's guess.
The ^VIX is also indicating that market's downside is limited.
Good Luck !!