QQQ gave back its U.S.-Iran-deal rally, with semiconductors leading losses (Micron -6.2%, AMD -7.3%, Intel -8.5%) into the close June 16. As the most rate-sensitive index, the Nasdaq-100 faces a hawkish-dot-plot risk at today's Warsh FOMC; with bearish near-term momentum I expect QQQ lower a day out.