$QQQ - Where are we going now?NASDAQ:QQQ
A drop to $517 looks in the cards here and would be a good spot to bounce to keep the Symmetrical Pattern alive.
Further weakness would take us down to previous support at $510-$515.
Not financial advice
QQQ trade ideas
$QQQ *BREAKOUT* above two resistance levels
Alright - big move for qqq yesterday. The thing that is driving me the most insane about this is volume. PLEASE VOLUME COME BACK.
So the CPI/PPI move was drop to the 50DMA and bounce, just like SPY & SPX. Wild stuff, y’all. Inflation data days never cease to be a wild ride. We are just under ATH’s here and that will be in today’s range.
Inflation is bad for the consumer - It is good for the market.
$QQQ Analysis, Key Levels & Targets for Day Traders Feb 12 NASDAQ:QQQ Analysis, Key Levels & Targets for Day Traders Feb 12
We’s been consolidating sideways here a bit and slightly up and if you look at the moving averages that’s the same. Slightly up and sideways.
We have a red signal line on the day and we have
35EMA is above the 30min 200 that is bullish. resistance at 531 and ash’s at 533 in todays trading range.
Bull gap underneath us with the support of the 30min 200 & the 50DMA
CPI and Jerome Powell today so Trade carefully.
$QQQ Wedging on the 65 Minute Chart (VCP)NASDAQ:QQQ is clearly in a wedging pattern. These types of patterns “usually” resolve in the direction of the larger trend. In this case that trend is still up.
This is a news driven market now so anything can happen. I have an alert set at both the top and bottom of the wedge lines. I do not plan to short this market, but should it break down, I may want to reduce my exposure. And if it breaks to the upside, I may add more exposure.
I am giving my observation of the market. Nothing more.
$QQQ Recap of Last Week Feb 18-21
Last week we started the week with a run to make new ATH’s and then a drop back down to the 50DMA.
New ATH’s on Wednesday and then a gap down Thursday. Watch that red signal line Thursday going into Friday - clear resistance (at the red arrows)
We saw resistance at the 35EMA and the red signal line and we dropped all the wan down to the 50DMA.
We stayed within the implied move all days expect for Friday.
QQQ directional change possible, double top?See text box on chart.
It's going to be a tough year to determine direction. Lot's of see-saws likely due to new administration with lots of extreme policy changes. Trade smaller than usual, longer trends are less likely to develop, as opposed to the last 18 months.
Q's w/ Resisting PressureNo this is not a top call, but this is not the r/r to be taking new longs.
Trends can stay long overbought before correction but data points to a breather on the horizon for tech and the Qs.
Selling CCs, Buying puts, etc.. to offset some delta is wise at this stage in the daily cycle.
The market breadth is about neutral as it gets which could be argued to either side.
- Long QQQ Next Week: Targeting New Highs Amidst Market Volatili- Key Insights: QQQ demonstrates strong bullish momentum with potential to reach
new highs if it remains above critical support levels of 533 and 530.
Traders should focus on intraday patterns and be prepared for volatility due
to mixed market signals, particularly from the IWM. Maintaining a watchful
eye on macroeconomic news and sector performance will be crucial.
- Price Targets:
Next week targets are T1: 545, T2: 552.
Stop levels are S1: 533, S2: 530.
These levels are designed to safeguard long positions while capitalizing on upward movement.
Recent Performance: QQQ has been trading at record highs, influenced largely
by the strength of major tech stocks, while the overall market sentiment
remains cautiously optimistic with some divergence in index performance.
- Expert Analysis: Analysts suggest that continued upward momentum in QQQ
depends on holding above critical support. While bullish signals exist,
caution is warranted given the contrasting performance of smaller caps.
Investors should be discerning and ready for potential market pullbacks.
- News Impact: QQQ's recent surge can be attributed to robust earnings reports
and growth expectations from dominant technology firms. However, market
fluctuations could arise from upcoming economic indicators and policy
decisions from the Federal Reserve that warrant close attention.
QQQ - Many bullish patterns happening - Bull Trap?Here we are, again, at an all time high on index, not full breadth in my opinion.
I am only trading options on break and retest, or momentum, or mean reversions.
Those are my base plays for risk on.
Are we heading for a blow off top to the top of the channel into a 5-10-20% correction?
Is is a bull trap?
Is it a blue sky breakout?
End of February, ???
QQQ at a Critical Level! Key Trade Setups for This Week 🚀Market Structure & Trend Overview
QQQ has shown strong bullish momentum, breaking past previous resistance levels and forming higher highs. Currently, it's approaching a critical resistance level near $535-$540, which aligns with GEX resistance. A rejection here could lead to a pullback, while a strong breakout may trigger further upside momentum.
Key Levels to Watch
* Immediate Resistance: $535.50 - $540 (Gamma resistance zone)
* Support Levels: $525, $520, and $510 (Put walls & strong demand zones)
* Breakout Level: Above $540 for potential continuation to new highs
* Bearish Breakdown: Below $520 could trigger a pullback toward $510
Supply & Demand Zones
* Demand Zone: $520 - $525, aligning with a key retracement level.
* Supply Zone: $535 - $540, where heavy call positioning is observed.
Indicators & Momentum
* MACD: Recently crossed bullish but starting to flatten, signaling possible consolidation.
* Stochastic RSI: Overbought, suggesting potential cooling off before another leg up.
* Volume: Increasing buying volume, but needs follow-through for sustained breakout.
Gamma Exposure (GEX) Insights
* Highest Positive GEX (Call Resistance): $535-$540
* Highest Negative GEX (Put Support): $510-$520
* Call Domination: 78.67% / 2nd Call Wall at $530
* Put Pressure: -39.78% at $520 & -44.98% at $510
* Volatility Metrics: IVR 15.1, IVX avg 17.9 (moderate volatility)
Potential Trade Setups
📈 Bullish Scenario (Breakout above $540)
* Entry: Above $540 confirmation
* Target: $545 - $550
* Stop-loss: Below $535
📉 Bearish Scenario (Rejection at $535-$540)
* Entry: Below $530 breakdown
* Target: $520 - $510
* Stop-loss: Above $535
Conclusion & Trade Plan
QQQ is at a make-or-break level, with $535-$540 acting as a key resistance. The strong call positioning suggests a potential gamma squeeze, but the overbought indicators warrant caution. A breakout could push QQQ toward $550, while failure to break higher might result in a pullback to $520 or lower.
🔔 Watch price action carefully at resistance before making a move.
⚠ Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risk accordingly. 🚀
$QQQ Analysis, Key Levels & Targets for Day Traders Feb 11 25NASDAQ:QQQ Analysis, Key Levels & Targets for Day Traders Feb 11 25
So the 35EMA above the 30min 200 is still bullish here. As long as it is above we are still in an uptrend. But they are not far away from each other, we are not trading high above the 30min and 50D and 1D200 aren’t that far away
Moving averages are still pointing up so expect techincal bounces if we get near them… and as far as bear call spreads today I would look to 545/536, and bull put spreads 523/522
Two resistance levels in the upper half, one at 531 and the other is at the top of the implied move at 534.
Let’s go, y’all
$QQQ Analysis, Key Levels & Targets for Day Traders for Feb 10 2NASDAQ:QQQ Analysis, Key Levels & Targets for Day Traders for Feb 10 2025
We are opening right at the downtrend and at the top of the expected move. Could be top of the day here.
Red signal line. 530/531 bear call spreads for me.
The Qs close to ATH, but what will happen?NASDAQ:QQQ rising on decreasing (and low) volume. I don't buy it.... Feels fragile and with zero conviction.
Let's see!
Long momentum expected for QQQ next week as market stabilizes- Key Insights: QQQ is showing strong bullish momentum, currently trading above
key moving averages. Investors should monitor important resistance levels
around $527 to $536, as breaching these could indicate a pullback. Likewise,
solid support at $514.75 is crucial for maintaining upward trends. The
market is sensitive to potential tariff announcements, which could lead to
volatility in tech stocks.
- Price Targets: Next week targets: T1: $530, T2: $535. Stop levels: S1:
$514.75, S2: $510.15.
- Recent Performance: QQQ continues to exhibit bullish trends, with recent
performance indicators showing it trading well above its 20, 50, 100, and
200-day moving averages. However, recent sessions have shown it approaching
critical resistance levels.
- Expert Analysis: Analysts are urging caution as the QQQ nears resistance
levels. Key support and resistance levels must be monitored, particularly
the implications of potential external market pressures like tariffs.
- News Impact: Tariff announcements could significantly affect the technology
sector, with analysts predicting a potential decline in QQQ values if
adequate support levels fail. Traders should remain alert to economic
developments impacting the index.
QQQ sell to 500We recently formed a double bottom at 510 and a double top at 531 , we’re definitely going to complete the sell to 510 however Watch for a break and retest below 510 and we’ll be able to head to 500 to complete the previous move upwards to 531 that originally started January 13th.
QQQ / NDX / SPY /SPX showing some exhaustionLooking at prior charts for QQQ/NDX and SPY/SPX, it appears some similar technical coincidences have developed again.
Using QQQ as my example, I'm of the opinion an overnight down-trend will begin after-hours on /NQ and /ES futures, thus resulting in an initial price retest to roughly $511 for QQQ.
I'm posting this as of Thursday afternoon, February 6, 2025, EST
$QQQ Analysis, Key Levels & Targets for Day Traders for Feb 7 20
Alright we are opening with a follow through of the breakout from the downtrend, but also at resistance.
If we get above this level, 531, then the next resistance is at 533, and then 536 is the top of the implied move.
Under us we have all kinds of bounce levels, 35EMA, 30min 200 and 524 is the bottom of the implied move.
