While the S&P 500 finished the week once again testing new all-time highs around 5650, the Nasdaq 100 remains rangebound in a symmetrical triangle or "coil" pattern. While this pattern does not necessarily suggest a potential next move for the QQQ, it did lead me to think about four different scenarios that could play out over the next six to eight weeks.

The chart of the QQQ looks alot like the chart of Nvidia (NASDAQ:NVDA), with a clear consolidation pattern of lower highs and higher lows. Other leading growth names like Meta Platforms (NASDAQ:META) have failed to signal an...