QQQ Compression Coil

The bulls trying to extend the prior double-bottom rally while bears defend the neckline of a new head & shoulders

• Volume contraction is key as it means bears haven’t confirmed their pattern yet
  
• RSI ≈ 51 is perfectly neutral; momentum flat, but not diverging yet
  
• Stoch ≈ 82 is in showing short-term overbought, which often precedes a minor pullback; unless, volume expands upward
  
• Volume is declining through right-shoulder formation which suggests indecision, not conviction selling
  

Double-bottom support vs emerging head & shoulders resistance

• Until $595 or $606 decisively breaks on volume, expect sideways consolidation
  
• The edge slightly favors bulls because the neckline hasn’t been challenged with volume
  
• RSI & structure still lean constructive
  

1. Continuation of relief rally; neckline retest from above (55%)

• Break above $606-$610
  

2. Rejection & neckline (35%)

• Test ($595)
  

3. Controlled fade; could create a larger base (10%)

• Clean neckline breach
  
• Would target $585–$586 quickly; momentum flush