QQQ (3 October)

The rising wedge (marked by the two converging trendlines) is a classic loss-of-momentum pattern

• Price hit the upper boundary near $607 & closed back below $604 - a rejection right at resistance
  
• The measured move (-6.7%) projects down toward roughly $565–$570, aligning neatly with the lower boundary of the wedge & prior consolidation levels
  
• The slope of the moving average remains upward which confirms the bullish trend, but the distance between price & the mean is stretched
  
• Each time QQQ touched this far above the average earlier in the year (June & August), we saw 5-7% mean reversion moves
  

A proportional, healthy pullback

• If QQQ closes below ~$600, that would confirm the rising wedge breakdown & trigger the measured-move target to $570
  
• If it bounces from $595-$600, we could see a short-term fakeout before another attempt to push higher toward $615
  
• Volume (46.5M) on the rejection candle isn’t panic-level, but it is heavier than the previous few sessions, an early sign of distribution