$Invesco QQQ Trust(QQQ.US)$Invesco Nasdaq 100 ETF(QQQM.US)QQQ showed encouraging buying interest near its recent lows last week, suggesting that dip buyers are still active despite the recent volatility. That support helped stabilize sentiment, but it doesn’t change the bigger picture.

This week feels like an important test. If QQQ can reclaim higher levels and break above recent resistance, it would strengthen the case that the pullback was only a short-term correction. If it fails to do so, the market could be entering a longer consolidation phase where gains become harder to achieve and leadership continues to narrow.

After such a strong rally earlier this year, a period of sideways trading wouldn‘t be surprising. The next breakout—or rejection—will likely set the tone for the weeks ahead.

@Captain's Treasure