$Invesco QQQ Trust(QQQ.US)$Invesco Nasdaq 100 ETF(QQQM.US)QQQ chose to break below its consolidation triangle last week, which is an uncomfortable technical development. The index is now sitting just above the previous gap support, making this a critical area. As long as that gap holds, bulls still have a chance to regain control. But if it fails, the next meaningful support could be around the 660 area.

This week‘s catalysts will be crucial. Google’s earnings could help restore confidence in the AI trade, while any progress toward a ceasefire would likely improve overall risk sentiment. Without either of those, investors may continue reducing exposure, especially after recent weakness in AI-related names.

The uptrend hasn‘t been completely broken, but this is no longer a market where good news can be taken for granted. The next few sessions could determine whether this remains a healthy pullback or develops into a deeper correction.

@Captain's Treasure