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NasDaQ's New Highs & Next MoveNasdaq pushed up pass July's highest price last week. We want to keep an eye on it this week to see if there will be more buys to push price higher.
The only thing that can invalidate this setup is if the inside bar's or past sellers attempt to push the market down fails.
What do you think will happen next? Will the buyers keep price going or will the sellers come in strong?
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NAS 100 I It will rise from support Welcome back! Let me know your thoughts in the comments!
**NAS 100 - Listen to video!
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🔍Watch this before you BUY US 30, 100, 500. Don't get TRAPPED!Everything is in the video. Thanks for your attention!
DXY correction & US30 Recovery PredictionUS30 & Dollar Index prediction in real time. Watch this video to find out my prediction! US30 & Dollar Index analysis.
QQQ - (Short Premium) Short straddle to profit from high IV $$$In this video I cover a short straddle trade in QQQ that has a slight bullish bias to profit from both a price pop as well as the high implied volatility in this underlying.
**Current Market Structure**
-Medium/Long term bullish trend
-Price is reaching some key support areas at 175, 171, 170
-Bearish weekly candle may see prices push lower but I expect buying pressure to quickly enter back into the market
**Trading Tips**
-Right now is a good opportunity to be selling premium as the implied volatility has spiked from the recent selloff
-IVR is much higher in QQQ than in SPY or DIA due to the tech heavy nature of the Nasdaq and the fact that much of the selling has been in tech
-I could see price dropping down to key supports but I expect strong buying to enter back in, so I selling premium with a bullish bias
-Breakevens are in good areas with the lower BE just below key support and the upper breakeven giving plenty of overhead room in case price starts running up quickly
**Trade Ideas**
-I sold 178 strike straddles w/ 53 DTE for $9.50 per contract($950 total profit)
-I am selling premium with a bullish bias to not only profit from the high IV but also to profit from a bullish directional move.
-My defensive strategy, in case either my put or call is breached, will be to roll the untested side and create an inverted strangle. If the price is tested on the put side I would likely sell new 16-30 delta naked puts to further profit from high IV and get more directional for a price pop.