TQQQ is currently navigating an active downward leg originating from Point B, with the primary sequence target at red C near $44 remaining open and unreached. Despite the recent upside push, the broader market structure remains oriented downward as price works through this ongoing corrective phase.

Price is presently executing an upward retracement, pressing directly into the red BC area between $72 and $76. This push represents a key structural test within the larger move, as price interacts with immediate local supply before determining the next directional expansion.

Unless price manages to extend beyond Point B and completely shift the macro context, the dominant structural trajectory favors a path toward the lower objectives. A continuation downward keeps the open red C destination and the primary grey WCL zone firmly in focus.