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QQQ opened today with a new downside gap that would be filled by a rally to 744.85. Walter Deemer also highlighted that QQQ continues to have two additional significant unfilled gaps: one on the upside at 759.10, resulting from a one-day island reversal, and another on the downside at 720.48.
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Deemer previously noted that QQQ filled last week's upside gap, while observing the presence of a potential island top pattern in the ETF’s chart here. Earlier, he drew parallels between recent divergences and the stock market crash that occurred in May 1962 here. These historical comparisons provide context for his current focus on unfilled QQQ gaps.