When you do your technical analysis of stocks you will notice that the picture of landscape will change as time and price action moves forward. Many times a stock will have many shapes of TA that needs to be interpreted. It is very important to do long and short term charting on each stock. As you can see more directions to a stock, the multiple dimensions will give better setups. In this chart of QQQQ, I am only posting one dimension of downtrend channel. As you can see the price action is to the downside. A better clue of what is going to happen is when the upper or lower channel is broken to either side.