$QQQ, an ETF that tracks the Nasdaq-100 Index, has been facing significant resistance levels recently. On September 19, it attempted to break above $485.6 but pulled back, needing to hold $483.2. The next day, it faced further resistance and selling pressure, stalling at the resistance levels and dropping below $480.49. The ETF is challenging its August highs, and maintaining near-term momentum is crucial for buyers. The delays in NVIDIA's Blackwell systems to Q1 2025 have also contributed to the bearish sentiment. Analysts are watching to see if $QQQ can reclaim its previous lows or if it will pull back to the Point of Control (PoC) around $475. Despite the challenges, $QQQ remains in its 'sweet spot,' and a close above today's lows would be constructive.