$QQQ has lost the VWAP anchored to the March 30 '26 low and could very well be on its way to a retest of dynamic support at the 200-day EMA and the 200-day SMA. Hopefully, $QQQ finds support at the 200-day MAs. However, if $QQQ loses support at the 200-day MAs, then it finds itself in an area with very thin volume on the volume profile anchored to the January 28 '26 high. In other words: Not a lot of support from the volume profile in this area beneath the 200-day MAs. So, if $QQQ loses support at the 200-day MAs, then it could potentially go all the way down and retest the value area low (blue horizontal line) of the volume profile and maybe also the VWAP anchored to the April 7 '25 low. I am not trying to predict anything here; I just explain what is visible on the chart. Of course I hope that $QQQ finds support at the 200-day MAs; however, I still think it's prudent to be aware of the possibilities outlined in the chart. Have a great weekend! 🌟