1: This is the lowest point QQQ traded in last 3-4 sessions so if we can penetrade this today, it would mean huge buying and this pullback is not likely to continue.
2: When we see a big down day like this, in order to reverse it, we want to see stock to recover at least 50% of the daily loss. 482.9 also happens to be 50% of daily retracement.
These are all just short term noise, if you like to do day trading to scalp for some quick $$. Big trend wise, we are still ok. 470 area is the place QQQ must hold for this uptrend to hold
