$QQQ, the ETF tracking the Nasdaq-100, has been experiencing significant upward momentum, reaching new highs and closing in on key resistance levels. As of September 25, 2024, $QQQ was trading above 485.5 and aiming to fill the gap near 493, which was the starting point of the mid-July correction. The ETF has shown a higher high and higher low pattern since the August 5 reversal, indicating strong technical performance. Market participants are watching closely to see if $QQQ can close above the resistance area, which would provide a technical advantage for bulls. The next resistance level to monitor is around 491.34. Additionally, the VIX has reached fresh lows for the month. The ETF needs to hold 480 on a closing basis going forward.