The QQQ weekly chart shows a notable shift in momentum, with price recently pulling back from a swing high at 636.60 and currently trading at 601.41. Both short-term and intermediate-term swing pivot trends have turned down, confirmed by the most recent pivots and the downward direction of the 5, 10, and 20-week moving averages. Resistance is clearly defined at the recent highs (636.60–637.01), while support levels are layered below at 570.07, 522.35, and further down at 472.67 and 342.35, indicating potential zones for price reaction if the pullback continues. Despite the current retracement, the long-term structure remains bullish, as evidenced by the upward trends in the 55, 100, and 200-week moving averages. This suggests that the broader uptrend is intact, even as the market experiences a corrective phase. The neutral stance of the Fib Grid trends across all timeframes highlights a period of consolidation or indecision, with neither buyers nor sellers in clear control. From a futures swing trader’s perspective, the market is in a corrective mode within a larger bullish cycle. The current environment is characterized by a pullback from highs, with price action consolidating near key moving averages and support zones. This phase may precede either a deeper retracement or a potential resumption of the primary uptrend, depending on how price interacts with the identified support and resistance levels in the coming weeks.