The QQQQ failed to move above the resistance near $43, which we've noted in our past reports as a likely barrier that would prevent the bull rally from continuing. In our last report, we also mentioned that the support of the 15 DMA was able to prevent a major pullback, but as you can see from the chart below, this story is no longer relevant because the bulls were unable to prevent a move below this moving average. Thursday and Friday's close below the support of the 15 DMA also corresponds to a move below a medium-term trendline, which could be used by traders to suggest that last week's pullback could continue.