The Qs made a new rally high today as did a couple of other markets, but it is doubtful that today's rally marks the resumption of the uptrend. It is more likely that this is a b wave in a still ongoing flat correction that will require another down move, possibly sharp, to complete it. The August lows are not likely to be exceeded significantly.
If we see a continuation move on substantial volume we may conclude that the rally has resumed, or if we see a substantial break of the August lows we may conclude that a larger correction is underway. However, neither seems likely near term.
Overall, today's action argues for a continuing sideways consolidation that will ultimately lead to higher prices, probably into late Sept or early October.
Waiting for the eventual move higher may seem like watching paint dry, but there really is not much else to do at the moment, except building a watchlist of potential breakout candidates, of which there are many. The following may be worth a look: AAWW, AIRM, AMGN, CMG, EME, ILMN, JCOM, JST, TLEO.