1. Daily Chart Analysis (1D):
* Trend: QQQ is continuing its strong bullish trend and trading within an ascending channel.
* Support and Resistance Levels:
* Support: 533.21 (key level to hold the uptrend).
* Resistance: 539.15 (recent high and channel top).
* Momentum Indicators:
* MACD is bullish and expanding, suggesting upward momentum.
* Volume has been rising with the upward move, signaling strength in buying.
Outlook: Bulls remain in control, but QQQ is testing the top of the channel. Watch for consolidation or rejection near 539.15.
2. 1-Hour Chart Analysis (1H):
* Trend: Strong intraday uptrend but showing initial signs of slowing.
* Support and Resistance Levels:
* Support: 533.21 (near-term intraday support).
* Resistance: 540 (psychological level and Gamma Wall).
* Momentum Indicators:
* MACD shows divergence; histogram is weakening, suggesting a potential pause or pullback.
* Volume is tapering slightly as price tests resistance.
Outlook: A break above 540 could trigger another leg up. Failure to hold 533.21 may lead to a pullback toward 531.
3. GEX Analysis (Options Levels):
* Key Observations:
* Call Walls: 540 (2nd Call Wall) and 539 (highest positive Gamma/Call Resistance).
* Put Support: 531 (Gamma Put Wall).
* Options Oscillator: IVR at 12.9%, and Puts are only at 12.2% compared to heavy Calls at resistance.
Outlook: With Gamma Resistance at 539 and 540, QQQ needs strong buying pressure to break higher. Weakness may lead to a test of 533–531.
4. Suggested Trade Setups:
Scalping Trade:
* Bullish Setup: Buy 540 Call for short scalps if QQQ breaks above 540 with strong volume.
* Bearish Setup: Buy 533 Put for a quick trade if price rejects 539 and fails below 533.21.
Swing/Day Trade:
* Bullish Setup: If QQQ closes above 540, consider a swing trade with 545 Calls expiring this week.
* Bearish Setup: If QQQ fails 533 and closes below, target the downside with 530 Puts for a day trade.
5. Key Notes:
* Bias: Bullish but cautious near resistance at 540.
* Levels to Watch:
* Breakout Level: 540.
* Pullback Support: 533–531.
* Trade Ideas: Follow volume and price action confirmation at these levels.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
* Trend: QQQ is continuing its strong bullish trend and trading within an ascending channel.
* Support and Resistance Levels:
* Support: 533.21 (key level to hold the uptrend).
* Resistance: 539.15 (recent high and channel top).
* Momentum Indicators:
* MACD is bullish and expanding, suggesting upward momentum.
* Volume has been rising with the upward move, signaling strength in buying.
Outlook: Bulls remain in control, but QQQ is testing the top of the channel. Watch for consolidation or rejection near 539.15.
2. 1-Hour Chart Analysis (1H):
* Trend: Strong intraday uptrend but showing initial signs of slowing.
* Support and Resistance Levels:
* Support: 533.21 (near-term intraday support).
* Resistance: 540 (psychological level and Gamma Wall).
* Momentum Indicators:
* MACD shows divergence; histogram is weakening, suggesting a potential pause or pullback.
* Volume is tapering slightly as price tests resistance.
Outlook: A break above 540 could trigger another leg up. Failure to hold 533.21 may lead to a pullback toward 531.
3. GEX Analysis (Options Levels):
* Key Observations:
* Call Walls: 540 (2nd Call Wall) and 539 (highest positive Gamma/Call Resistance).
* Put Support: 531 (Gamma Put Wall).
* Options Oscillator: IVR at 12.9%, and Puts are only at 12.2% compared to heavy Calls at resistance.
Outlook: With Gamma Resistance at 539 and 540, QQQ needs strong buying pressure to break higher. Weakness may lead to a test of 533–531.
4. Suggested Trade Setups:
Scalping Trade:
* Bullish Setup: Buy 540 Call for short scalps if QQQ breaks above 540 with strong volume.
* Bearish Setup: Buy 533 Put for a quick trade if price rejects 539 and fails below 533.21.
Swing/Day Trade:
* Bullish Setup: If QQQ closes above 540, consider a swing trade with 545 Calls expiring this week.
* Bearish Setup: If QQQ fails 533 and closes below, target the downside with 530 Puts for a day trade.
5. Key Notes:
* Bias: Bullish but cautious near resistance at 540.
* Levels to Watch:
* Breakout Level: 540.
* Pullback Support: 533–531.
* Trade Ideas: Follow volume and price action confirmation at these levels.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
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.