$Invesco QQQ Trust(QQQ.US) The weekly chart shows two consecutive long upper shadows, indicating clear pressure signals. Although there was a rebound after breaking below the lower Bollinger Band on the daily chart yesterday, it failed to recover the key support of EMA50. The bears successfully took the first round of testing, marking the first victory for the bears! The M7 collectively stalled, the AI application sector plummeted, and the crypto market remained sluggish, with all profit-making effects lost—this is the second victory for the bears! Coupled with geopolitical risks between the U.S. and Iran, the controversy over the Fed chair nomination, and the potential risks brought by Trump's policy uncertainties, multiple bearish factors resonate, marking the third victory for the bears! With the bears firing three arrows at once, the bulls have little chance of winning, hence the bearish outlook.