QQQ forms horizontal support line

QQQ has sold off quite a bit over the past 2 weeks. We are now starting to see consolidation as selling pressure reduces

• Horizontal support line starts to form after sell off
  
• Still within downward trading range
  
• Could be stock is taking a breather before more selling continues
  
• September and at times October are notably bad months of the year
  

We are seeing a settling right now, but we still are in a downtrend and the beginning of a historically bad month.