Agreed. In recent weeks I’ve highlighted the corrections that followed the previous “clean” high-level bearish crossovers on the PPO in recent years & your observation of the initial turn back up followed by a rejection shortly after some of those recent bearish PPO crossovers is certainly spot on so no reason to assume that it can’t or won’t play out that way once again although of course, that doesn’t guarantee that it will.

Are you referring to a H&S pattern on the 60-minute time frame of QQQ or another time frame? On the 60-min chart, there is what appears to be or at least, did appear to be, a potential H&S topping pattern with a down-sloping neckline although the right shoulder is getting a bit high to keep the symmetry of that pattern idea.
It is fine to have different size R & L shoulders but the right shoulder is now close to the top of the head which makes the pattern symmetry less than ideal.

I was watching the same setup this morning. Let’s see what Randy think. My target is 3170ish where Fib ext is at 161.8%.

Wow what a great graph