Price Action & Market Structure
* QQQ is trading around 577.7, stabilizing after a sharp morning dip toward 569.0 and a bounce back.
* Price is now consolidating between 576–578, showing indecision after recovering.
* Structure remains bullish above 576 HVL support, but bears will try to push it back toward 572–569 if that zone breaks.
Key Levels
* Resistance (Upside Caps):
* 578–580 → Immediate resistance / Gamma Wall.
* 582–583 → Next resistance cluster.
* Support (Downside Floors):
* 576 HVL → Key pivot support.
* 575–572 → Minor Put support zone.
* 569.0 → Strong support (recent low).
* 567 → Deeper Put Wall support.
Options Sentiment (GEX & IV)
* GEX: Bearishly skewed with Puts at 86.6%, suggesting hedging flows lean downside.
* IVR: 14.3, moderate but not extreme, showing some expected volatility.
* Gamma Walls:
* 580 = Major Call Resistance.
* 576 HVL = Key balance level.
* 572 / 569 = Put-heavy support.
Indicators
* MACD (15m): Rolling over after bounce, showing fading short-term momentum.
* Stoch RSI: Near oversold after pullback → could allow another push higher if 576 holds.
Scenarios for Today
Bullish Case (if 576 holds):
* Hold above 576 HVL, reclaim 578–580.
* Targets: 582–583 Gamma Wall zone.
Bearish Case (if 576 breaks):
* Drop back to 575–572 zone.
* If weakness persists → test 569.0, deeper downside toward 567.
Trading Thoughts
* Longs: Favor dip entries at 576–575 with bounce confirmation, targeting 580–582.
* Shorts: Fade rejection at 578–580, stops above 582.5.
* Stops:
* Longs → below 572.0.
* Shorts → above 582.5.
Summary
QQQ sits at a key balance zone (576 HVL). If support holds, bulls can push back to 580–582, but heavy Put exposure plus resistance at 580 may cap upside. A break below 576 flips bias bearish, targeting 572–569. Options sentiment is defensive, suggesting upside will be a grind unless bulls take control early.
⚠️ This analysis is for educational purposes only, not financial advice. Always manage risk carefully.
* QQQ is trading around 577.7, stabilizing after a sharp morning dip toward 569.0 and a bounce back.
* Price is now consolidating between 576–578, showing indecision after recovering.
* Structure remains bullish above 576 HVL support, but bears will try to push it back toward 572–569 if that zone breaks.
Key Levels
* Resistance (Upside Caps):
* 578–580 → Immediate resistance / Gamma Wall.
* 582–583 → Next resistance cluster.
* Support (Downside Floors):
* 576 HVL → Key pivot support.
* 575–572 → Minor Put support zone.
* 569.0 → Strong support (recent low).
* 567 → Deeper Put Wall support.
Options Sentiment (GEX & IV)
* GEX: Bearishly skewed with Puts at 86.6%, suggesting hedging flows lean downside.
* IVR: 14.3, moderate but not extreme, showing some expected volatility.
* Gamma Walls:
* 580 = Major Call Resistance.
* 576 HVL = Key balance level.
* 572 / 569 = Put-heavy support.
Indicators
* MACD (15m): Rolling over after bounce, showing fading short-term momentum.
* Stoch RSI: Near oversold after pullback → could allow another push higher if 576 holds.
Scenarios for Today
Bullish Case (if 576 holds):
* Hold above 576 HVL, reclaim 578–580.
* Targets: 582–583 Gamma Wall zone.
Bearish Case (if 576 breaks):
* Drop back to 575–572 zone.
* If weakness persists → test 569.0, deeper downside toward 567.
Trading Thoughts
* Longs: Favor dip entries at 576–575 with bounce confirmation, targeting 580–582.
* Shorts: Fade rejection at 578–580, stops above 582.5.
* Stops:
* Longs → below 572.0.
* Shorts → above 582.5.
Summary
QQQ sits at a key balance zone (576 HVL). If support holds, bulls can push back to 580–582, but heavy Put exposure plus resistance at 580 may cap upside. A break below 576 flips bias bearish, targeting 572–569. Options sentiment is defensive, suggesting upside will be a grind unless bulls take control early.
⚠️ This analysis is for educational purposes only, not financial advice. Always manage risk carefully.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.