QQQ Potential Inflection PointSymmetrical 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)
Direction = which line breaks (up/down)
Strength = whether volume surges beyond normal
Bulls need a fast reclaim of $572–$573 on strong volume; otherwise, bears keep control
