QQQ Potential Inflection Point

Symmetrical triangle = compression where buyers keep stepping in higher, but sellers cap at lower levels

• Often a continuation pattern, but it can break either way depending on volume + macro drivers
  
• MACD just had a bearish cross earlier, but it’s trying to curl back up which suggests indecision & matches the triangle
  
• RSI is holding mid-zone (~45) - not oversold, not overbought, again, neutral compression
  

In a proper symmetrical triangle, volume should decline as the pattern compresses

• This shows traders waiting, fewer willing to commit inside the chop
  
• That looks normal here (quieter trading into late August)
  

Volume must expand; otherwise it’s just a fake-out; ideally, RSI also breaks under ~40 & MACD diverges down

• If price falls back inside the triangle on weak volume, it’s a false move
  
• If price reclaims the ascending line quickly, it’s a bear trap
  
• If the breakout candle volume is ≥150% of average, that’s confirmation
  
• If price moves but volume stays weak, expect a possible reversal
  

Watch the first 15–30 min of volume after the break

• If it’s a strong surge, odds favor continuation
  
• If volume fades and price chops back inside the triangle, it’s likely a fake-out
  

Price broke down through the ascending support trendline around ~$572, currently testing $570

• Volume expanded on the breakdown candle which adds credibility to the move
  
• If follow-through comes with continued above-average volume, it confirms the downside break
  
• Triangle height is ~24 points (from ~$583 high to ~$559 low), so $570 – $24 = ~$546 (aligns with prior support from mid-August)
  
• If volume continues to stay above 1.3M baseline & Tuesday closes weak, expect sellers to aim for ~$558 first (previous swing low) & then the measured move (~$546)
  

1. Direction = which line breaks (up/down)
   
2. Strength = whether volume surges beyond normal
   

Bulls need a fast reclaim of $572–$573 on strong volume; otherwise, bears keep control