QQQ Analysis: Profit Taking After ATH Test, PDL Decides Sept 24Invesco QQQ Trust Series IBATS:QQQMTrades-TTSAfter testing the all-time high, QQQ's move in the Sept 23 session reads as profit taking. That was the expected reaction at the ATH, and it puts the previous day low (PDL) in focus for Sept 24. KEY LEVELS - PDL (Sept 23 low): - All-time high: - Levels below the PDL: 734, 732, 730 WHAT THE CHART SHOWS Price tested the ATH and pulled back. That pullback looks like profit taking at a major level, not a confirmed reversal yet. The PDL is the line between a normal pullback and a deeper move. SCENARIOS Bullish case: The PDL holds. I'm watching for a 5/12 EMA cloud curl as the long trigger. The ATH is the first target, and an ATH breakout is the extension. Bearish case: The PDL breaks. Then 734, 732 and 730 are the next levels in focus. RISK NOTE A PDL break invalidates the long idea. Levels are reference points, not guarantees. Plan position size so being wrong at the PDL is a small, defined loss. DISCLAIMER This is educational analysis, not financial advice or a trade signal. Do your own research and manage your own risk. qqq, nasdaq100, emaclouds, priceaction, alltimehigh, profittaking, previousdaylow, supportandresistance, daytrading, technicalanalysis