more bleeding

A very strong trend day down with very little retracement. The Q's put in a lower low and has just barely closed above a nearby support area. Volume was, however, lighter than average. So, across the board with the Q's, SPY, DIA we see a positive momentum divergence on a daily basis.
I was thinking that we could be in the stages of a right shoulder of an inverted Head & Shoulders pattern, but the recommendation for such a pattern suggests the shoulders be of nearly the same distance from the head, and instead we find our current "right shoulder" being twice as far from the "head" as the distance to the "left shoulder" was. Here's a daily of the SPY:
Here's a look at the Q's over the past 10 trading sessions on a 15-minute basis:And here's a look at today's activity.
Notice the bear flag within the first 1.5 hours. Drawing a Fibonacci Price Extension tool on top of this flag gave us a potential target for today's trend (of which it tagged, and nearly closed on). I didn't include the momentum MacD in this chart (that I typically have on my 5-minute charts) as it's basically irrelevant within a trend day.