$QQQ Weekly Close — Week ending Sep 11Invesco QQQ Trust Series IBATS:QQQMTrades-TTSThe week opened 720.91, pushed less than a point higher to 721.89, sold off fourteen points to 706.86, and closed 714.88 in the upper half of the range. Down 0.57% on the week. That's a test candle. Price probed lower, supply didn't appear, buyers took it back into the close. One honest qualifier. A test carries the most weight when it follows a heavy-volume down week, because you're testing whether that supply is still sitting there. This test follows five weeks of volume drying up — 144.53M this week against a 196.98M average, 73% relative volume, the lightest in months. There's no supply event to test against. Structurally a test, but a quiet one. The bigger picture. Since the July high near 748, price has been chopping between roughly 686 and 748 with volume declining the whole way. Weekly range came in at 15.03 against a 27.08 ATR — 56%, a narrow week. The weekly @ripster47 5-12 EMA cloud is flat, not sloped. That's a two-month compression. Compressions resolve. They don't announce which way in advance. Weekly levels: 724.20 is the cap and 700.00 is the floor, with the all-time high at 748.65 above and 686.78 below. A weekly close outside 724.20 or 706.86 ends the range. Until then there's nothing here worth forcing.