This Sunday chart review uses completed US regular-session trading through Friday, October 16, 2026. It separates near-term weakness, the broader weekly trend, filled daily gaps and the evidence required for a reclaim.
The weekly trend and the recent decline
QQQ closed October 16 at $709.80, down 2.50% for the session and 5.52% from October 9. It was 6.56% below the October 6 closing peak of $759.66. Friday was the lowest daily close since that peak, so there has been no subsequent closing rebound. The 10-week SMA was $727.14 and the 40-week SMA was $676.60. Short-term weakness and the broader advance are separate observations.
The daily moving averages
Friday closed below the 20-day SMA at $742.52 and the 50-day SMA at $726.77, while remaining above the 200-day SMA at $674.91. Weekly and daily averages use different samples. Their nearby values identify an area to assess; they do not provide independent guarantees of support. All averages use completed closes through October 16.
Filled September gaps and surviving October gaps
The September 17 daily gap at $711.88-$713.32 was fully traded on October 16. The September 21 gap at $721.73-$727.81 filled on October 15. These remain dated historical references, rather than untouched gaps. The October 13 downward gap at $744.20-$744.85 and October 7 downward gap at $758.30-$759.10 remain overhead. A gap does not guarantee a return or a lasting uptrend.
The dated references below the close
The October 16 intraday low was $707.23. Below that, the September 1 intraday low was $704.66 and the September 16 intraday low was $700.00. These are session extremes, not closing-price lows. A later daily close below a reference and a dip that recovers before the close are different outcomes. The 200-day SMA at $674.91 is farther below, near the 40-week SMA at $676.60.
What would repair the near-term chart?
Recovering the filled September areas would be an initial improvement. The next cluster is the 50-day SMA at $726.77 and the 10-week SMA at $727.14. A daily retest requires the test and a daily close back above the relevant level. A touch alone does not confirm it. Higher up, the 20-day SMA at $742.52 and the October 13 gap at $744.20-$744.85 form another repair area. These are stages of evidence, not guaranteed targets. The chart describes QQQ's price response and cannot prove a single cause for the selloff.
Research basis
Prices and OHLC: Yahoo Finance completed daily history and Nasdaq QQQ. Returns exclude dividends. Moving averages and gap intervals are calculated independently from completed regular-session history. Intraday extremes are labeled separately from closes.
Daily Levels - October 16 After Close - Movers and video archive
And remember, this is market research only, not a recommendation to buy or sell.