QQQ Potential Bearish Resolution

On the larger timeframe, the overall structure is a bear flag off the bigger down-move, much better than the earlier wedge attempt

• If QQQ were forming a wedge, price would be swinging wider with higher highs & lower lows, like a volatility burst after sideways action
  
• This leans bearish (because of the descending highs & flat-ish support), but the final signal will be whichever side breaks with volume
  
• The consolidation isn’t bullish (yet) because it’s drifting against the prior impulse down
  
• It's a bull flag nested inside a bigger bear flag
  

It's a setup that needs confirmation, so bullish in theory, but the market still has to “vote” with price + volume

• If you view the current consolidation as a bull flag, you’re keying off the last impulse up ($559-$572)
  
• If you view it as a bear flag, you’re keying off the last dominant leg down ($583-$559)
  

That last green bar is encouraging for bulls, but overall the consolidation volume looks like it’s contracting (fits both a flag & a bear retrace)

• The decisive clue will be whether volume expands on the breakout/breakdown
  

Puts

• Watch for rejection at $571 with fading volume
  

Calls

• Watch for strong volume push above $572, targeting ~$578
  

1. Volume

• Buyers came in strong on the last green bar, but for a sustained push through $571, should see rising buy volume
  

2. Structure

• If price fails at $571 & volume fades, it could roll over to test $565-$560
  
• If buyers push cleanly above $572 with conviction, then the upper gap $574–$578 comes into play as the next target
  
• If sellers defend $571 again, odds favor a breakdown toward $560
  
• If volume surges & $571 breaks, bulls have a clean magnet up to $578–$582