QQQ Forms New Downside Gap as Earlier Price Gaps Remain Unfilled

What changed

QQQ has formed a new downside gap, according to Walter Deemer’s latest chart commentary. Earlier gaps at 759.10 and 720.48 remain unfilled, while last week’s upside gap has been filled.

Why it matters

The chart now carries two signals at once: a fresh break lower and older price gaps still hanging above. That does not prove a sustained decline, but it gives traders clear levels to watch rather than one neat direction of travel.

Deemer had also flagged a potential island-top pattern and compared recent market divergences with the May 1962 stock-market crash. Those are warning signs, not a confirmed forecast. The new downside gap strengthens the chart’s cautious tone, but the report does not provide its level, the trading date, or confirmation that the pattern will hold.

The practical question is whether QQQ eventually retraces toward 759.10 or 720.48, or whether the newer downside move becomes the more important feature of the chart.