$Invesco QQQ(QQQ)$ This looks like dealer positioning around monthly expiry. It should close between 705 and 710, then bounce next week. I'm looking at $ProShares UltraPro QQQ(TQQQ)$ calls near Friday's close or Monday.
Sometimes it helps to step back and look at the bigger picture, like the weekly chart. I think $Invesco QQQ(QQQ)$ looks set up for a decent multi-week run from here. The pullback stopped last week, and this week confirmed it. Maybe that is it?