The QQQ weekly chart currently reflects a transition phase. Price action shows a medium-sized bar with average momentum, and the last price (605.20) is consolidating just above a recent swing low (600.01), but below key resistance (636.60–637.01). Both short-term and intermediate-term swing pivot trends are down, confirmed by the downward direction of the 5, 10, and 20-week moving averages. However, the longer-term 55, 100, and 200-week moving averages remain in an uptrend, indicating that the broader bullish structure is intact despite the current pullback. The neutral bias across all session fib grids (weekly, monthly, yearly) suggests a lack of strong directional conviction, with price oscillating within a neutral zone. Support levels are layered below, with the nearest at 600.01, followed by 572.07 and 524.32, while resistance is clustered at the recent highs. This setup is typical of a corrective phase within a larger uptrend, where price is digesting previous gains and testing support. For a futures swing trader, this environment signals a period of consolidation and potential volatility, with the market at a decision point. The prevailing long-term uptrend provides a bullish backdrop, but the current short- and intermediate-term weakness warrants close monitoring for either a continuation of the correction or a reversal back toward the highs. Patterns of higher lows or a strong bounce from support could indicate renewed bullish momentum, while a break below key support would suggest further downside risk within the corrective structure.