Futures and ETF trading activity around the Nasdaq 100 futures ($NQ_F) and Invesco QQQ Trust ETF ($QQQ) indicate cautious market behavior amid technical levels testing. The Nasdaq 100 futures showed notable price action around key retracement levels, including a 61% retracement of Thursday's high at 289 and a 38% retracement of last week's regular trading hours high at 297. Traders noted support at the 640 level on a 10-minute chart and highlighted volume pivot points such as 035. Short positions were taken late in the session with expectations for the index to reach 821, accompanied by significant volume prints during the electronic session. The QQQ ETF price tested the bottom of this week's value area, with a high made 15 minutes before futures opened, signaling a telegraphed move. Overnight, the QQQ experienced a fade from an intraday high of $463 to $450, prompting cautious sentiment for the day's trading. The 30-day 3 risk line for Nasdaq 100 futures was identified at 18,751.25, with traders short below this level. Market participants emphasized the importance of understanding key levels and algorithmic trading behavior in navigating these price movements.