Over the past couple of weeks we've been mentioning that the QQQQ looked like it was becoming exhausted in the near term. As you can see from the chart below, the bulls' failed attempt to push the QQQQ back above the trendline has resulted in an increase in selling pressure and a week of steady declines. We've also indentified a short-term triple top that has formed on the chart of the QQQQ, which may be used by short-term traders as confirmation of the expected exhaustion. Even though we've seen the start of our expected correction, the 100/200 DMA crossover is still a going concern and should be a warning sign for any longer-term traders trying to benefit from a prolonged move lower.