QQQ Levels in Play

QQQ is coiling between $577–$583

• $583.2 (Top 1/Fib 0%) is major resistance
  
• $581 (Top 1/recent high) is lower high rejection
  
• $578–$579 (current) sits just above Fib 23.6% (~$577)
  
• ~$571 (Fib 50%) is mid-support
  
• ~$568 (Fib 61.8%) is a critical downside pivot
  
• $564–$563 (Fib 78.6%–82.6%) is a possible deep retrace
  

In short,

• Above $583 = breakout
  
• Below $572 = breakdown
  
• Between = chop trap