QQQ to $600 part 3 and final video (it's been a pleasure)Last week was amazing and I hope more of the same this week coming up.
Key levels to long $525 with your preference of stop loss.
Key levels to short $511 with your preference of stop loss.
QQQ trade ideas
QQQ: Expecting Bullish Movement! Here is Why:
The price of QQQ will most likely increase soon enough, due to the demand beginning to exceed supply which we can see by looking at the chart of the pair.
❤️ Please, support our work with like & comment! ❤️
QQQ (Invesco Nasdaq-100 ETF) – Breaking Down in the Future📉 Overview:
QQQ, which tracks the Nasdaq-100, is showing signs of exhaustion at the $535.55 resistance zone. A corrective pullback is anticipated as the ETF completes its 5th wave, aligning with overbought conditions and broader macroeconomic headwinds.
📊 Technical Analysis:
Resistance Zone:
- Key Levels: $527.78–$535.55 (88% Fibonacci retracement).
This zone has capped recent bullish attempts, with a potential reversal into a bearish wave structure.
Elliott Wave Count:
- Wave 5: Likely complete, with a corrective wave (A-B-C) unfolding.
A break below the support trendline could signal the start of a more significant decline.
Targets:
- Target 1: $515.55 – Near-term pullback zone aligned with Fibonacci confluences.
- Target 2: $498.58 – Corresponds with the 1.0 Fibonacci extension of the corrective wave.
- Extended Target: $480.28 – Major support zone and 1.618 Fibonacci extension.
- Stop-Loss: Placed above $535.55 to avoid false breakout risks.
🌐 Macro Analysis:
Tech Sector Challenges:
- Rising interest rates are a headwind for growth-oriented sectors like technology, which dominate QQQ.
- Valuations appear stretched, leaving little room for error as earnings season approaches.
Economic Data:
Market sentiment is fragile amid concerns over slowing economic growth and potential Fed tightening in early 2025.
Nasdaq-100 Dependency:
Heavy reliance on a few mega-cap tech stocks makes QQQ vulnerable to concentrated risks.
⚡ Trade Plan:
- Short Entry Zone: $527.78–$535.55.
Risk-Reward Setup:
- Stop-Loss: $535.55.
- Target 1: $515.55 (RR ~ 2:1).
- Target 2: $498.58 (RR ~ 4:1).
- Extended Target: $480.28.
🔍 Considerations:
Look out for Nasdaq-100 earnings reports, which could act as a catalyst for volatility. Monitor economic releases, such as inflation and jobs data, which could shift sentiment.
Is QQQ poised for a reversal, or could the bulls defy the odds? Share your thoughts in the comments! 🚨📉
Market Update - 12/22/2024• still only 14% invested, the week was quite bad, most stocks sold off
• however, some stocks, especially space names, tech and retail are holding up very well
• given we are quite oversold short term and we could get an aggressive rebound next week, these stocks might be good breakout candidates
• will still stay small in terms of position sizing (5% max) until we get more traction
Interesting trend line confluence on QQQ: Bull CaseNobody knows what is going to happen, but this confluence of trend lines is at least interesting.
There is a short term uptrend since the August low that converged pretty perfectly with a longer term trend line that seems to have had some weight as resistance since summer of 2023. It has been broken at times, but price has always come back in and has spent a lot of time respecting it.
This month we broke above it again and then on Friday we opened below both lines, only to rally back up and close above them.
There is also a resistance line that along with the short term support line can be seen as a rising wedge that was broken on December 4th. This latest drop took us down through the front of that wedge but on Friday we closed back above it.
Now the market of course does not have to follow any of these lines, but I thought the confluence was interesting. Could this all just be a retest of the wedge we just broke out of to the upside? Could the longer term resistance line finally be flipping to support? In that case, we could be at the beginning of a much bigger upside move.
To be clear, I do also see credible downside possibilities, but there is some confluence and some strength worth noting here.
QQQ Trade AnalysisThis chart represents the daily timeframe for QQQ, showcasing a mix of technical indicators like pivot points (S1, S2, R1, etc.), exponential moving averages (EMAs), trendlines, dark pool levels, and volume. The chart indicates a recent pullback in a long-term uptrend, with price sitting near a key support zone.
Key Observations:
1. Trend Analysis:
Long-Term Trend:
The green ascending trendline suggests a consistent long-term bullish trend.
The price is still well above this trendline, indicating the broader trend remains intact.
Recent Pullback:
Price recently tested the R2 pivot (534.52), indicating an overbought condition, and has since pulled back.
It is now consolidating near the S1 pivot (490.80) and the 21 EMA, which are critical short-term support levels.
2. Support and Resistance:
Resistance Levels:
R1 (522.13) and R2 (534.52) are the immediate resistance zones. Price rejection at these levels confirms sellers’ presence.
R3 (553.45) is the long-term target if the bullish trend resumes.
Support Levels:
S1 (490.80): Current support level and pivot zone.
S2 (471.87): A deeper support zone near the green trendline, likely to act as a strong barrier.
Dark Pool Levels:
508.70 (recent activity) may serve as minor resistance.
496.39 and 480.70 indicate institutional interest zones that could provide support.
3. Volume Analysis:
Recent volume spike on the pullback indicates increased participation, potentially signaling a shift in momentum.
Red candles with high volume often signal distribution, but if price stabilizes near support, this could indicate accumulation by institutions.
4. Moving Averages:
Price has fallen below the 8 EMA, signaling short-term bearish momentum.
However, the 21 EMA near 490.80 acts as a critical level. A rebound from this area could indicate a resumption of the uptrend.
Trade Setup:
Scenario 1: Bullish Reversal from S1 (490.80)
Trigger: A bounce off the S1 pivot and reclaim of the 8 EMA (~508.70) would signal a bullish continuation.
Profit Targets:
508.70: Dark pool resistance and 8 EMA level.
522.13 (R1): Swing high and key resistance zone.
534.52 (R2): Longer-term resistance.
Stop-Loss: Below 486, as a break below this level would invalidate the bullish thesis.
Scenario 2: Bearish Breakdown Below S1 (490.80)
Trigger: A strong close below the S1 pivot with increasing volume would confirm bearish momentum.
Profit Targets:
480.70: Dark pool support.
471.87 (S2): Pivot support and intersection with the green trendline.
459.48 (S3): Deeper downside target.
Stop-Loss: Above 500, as this would indicate a reversal back above key support.
Scenario 3: Long-Term Reversal Near Trendline Support
If price continues lower, the green trendline near 471.87 offers a high-probability buying opportunity, especially if accompanied by lower volume on the decline.
Final Thoughts:
Short-Term Outlook: Consolidation near S1 (490.80) requires confirmation of direction. A breakout above the 8 EMA would favor bulls, while a breakdown below S1 opens the door for further downside.
Long-Term Outlook: The green trendline and dark pool levels suggest strong institutional support on deeper pullbacks, keeping the broader bullish trend intact.
Doubt Me If You Want, But My Strategy Speaks for Itself!NASDAQ:QQQ AMEX:SPY
Do you see how my Williams CB is one of the best strategies out there for predicting markets short & long term moves? How coupled with my H5 trading strategy it gives me the best chances to beat these crazy markets.
Two weeks ago we were at the top and called for a no more than 3% market pullback. I was wrong and right at the same time. We got a pullback but it wasn't what I anticipated but who anticipated the FED nuking the markets yesterday? Nobody but the FED.
I show you this so you understand when we get to the barrier we don't know what it's going to be that pulls the market back or causes us to consolidate and peel off the red barrier. BUT, we need to understand where we are at and that running into the barrier is not the time to be adding to trades or exploring new ones. It's the time to take profits, consolidate, and maybe hedge a little.
I'm not putting this out to be applauded or to act like I'm some type of Oracle. I simply want to show all my friends who have decided to stick it out with me the last few days when others chose to leave that you can entrust in my strategies and I will teach you everything I know so you can beat the markets on a consistent basis too!
QQQ Bearish Engulfing Candle on Weekly TimeframeAccording to our models QQQ will keep correcting for another 3-4 Weeks and approximate correction would be 8%
Entry Short: 524
Exit Short: ~ 480
All the best.
Marketpanda
Disclaimer: The information provided is for general informational and educational purposes only, and does not constitute financial, investment, or legal advice. None of the content shared should be relied upon as the sole basis for making investment decisions. Prior to making any financial or investment decisions, it is strongly recommended that you consult with a qualified financial advisor, accountant, or other professional who is familiar with your individual circumstances and risk tolerance. Any reliance you place on the information presented is strictly at your own risk, and we are not responsible for any losses, damages, or liabilities resulting from your investment or trading activities.
THIS IS A FAKE OUT IMO! BUY THE DIPNASDAQ:QQQ AMEX:SPY AMEX:IWM
THIS IS A FAKE OUT! BUY THE DIP 👇
-Strong Economic Fundamentals
-Hawkish FED spreading FUD
-Same Government shutdown scares every year
-2T+ in options (mostly call) expiring today
-Gains being pressured to be sold for 24 taxes
-Scare meme coin & gambler bro's out the markets
-Incoming party is for business & the stock market
-VIX spiked faster than Japanese trade crisis
-Inflation still coming down
-AI is still strong and a catalyst
-Company earnings are still hefty
-Global markets are curling up not down
All of these reasons explain my point of this being a FAKE OUT. I will be buying this DIP because I see nothing CONCRETE! All I see is that the market maker and FED Chair Powell teamed up to be the GRINCH & SCROOGE this Holiday season. Not financial advice.
QQQ correction end 2024 - more strong than SPYAs we can see, there has been a correction since the presentation of the FOMC meeting, with a break in the bullish structure we had in the indices. QQQ broke bullish structures in 2-hour timeframes, but for now, it shows a more bullish movement than SPY. We should recover the 4-hour channel to maintain an upward movement in the 4-hour and daily timeframes.
Como podemos ver tenemos una correccion desde la presentacion de la reunion de la FOMC, con una ruptura de las estructura alcista que teniamos en los indices, QQQ rompio estructuras alcista en temporalidades de 2horas, pero por el momento tenemos un movimiento mas alcista que el SPY y deberiamos recuperar el canal de 4HS para mantener un movimento alcista en la temporalidad de 4hs y diaria.
Tech Is Ded...So is TA...Muh crystal ball skills are in full display here...everything is too good currently how can markets go down with head honcho Donald duck I mean Trump as POTUS...well that's exactly the point it actually don't matter and it never did lol, bottom shorters from years back are now expert bulls and frothing at the mouth speculating with the can't lose mentality...so what comes next should be quite obvious/natural...the illusion of safety has spread like covid amongst the herd and the only jab that will fix it is a swift uppercut to their accounts (losses). Everything that I visioned playing out 2 or so years ago has come true and it's now time to change sides as I believe there aint much juice left in the tank for bulls, RUT making new highs and dying was one very good top indicator for larger index's as the end is usually marked by a speculative frenzy in smaller stocks popping 20% or so daily which has happened now, I'm expecting mining stocks to have a really good 6-12months from here providing markets do indeed fall for 2 or so years as miners tend to lag a top for about that time.
Gl Swoop out.
QQQ Sell to $497-501 Weekly Resistance for Buying opportunity A 52 week high was made on Monday, December 16 at $539 on QQQ . The fed Powell released the news he’s cutting rates by a quarter of a percent which caused the market to plummet ,Banks also manipulating the market to get into these buying opportunities. We are currently failing to break above 520 , also struggling to fully break below 515 . We will continue to sell down once we pass 515 . Looking at my chart on the weekly timeframe appears is 501-497 is the actual resistance that we are heading to now. It may look like 515 is the resistance, but in all actuality, it does not appear to be a Stronger demand zone than 500 to 497. Once we get here, look for buying opportunities at the new year will bring in New yearly, highs, and new yearly lows. For now, we should be in puts to $500.
QQQ - Correction Underway After Recent HighsThe QQQ is currently undergoing a corrective move after reaching a recent high of around 540 USD. The price has retraced sharply from this level, indicating a potential shift in market sentiment as sellers begin to dominate.
Key Levels
Support Zones: Immediate support can be seen around 519 USD, with more significant zones near 500 and 480 USD, which aligns with previous price consolidation.
Market Structure
After a strong upward move, the price has entered a consolidation phase, with lower highs indicating the start of a pullback. Sellers have gained control, as evidenced by the recent price action.
Volume
The CVD is deeply negative, highlighting strong selling pressure in the current market phase. This suggests that while price holds near key support, bearish momentum remains high, and we may see further downside if these levels don't hold.
Outlook
Watch for price action around the current support. If this level breaks convincingly (what has to be expected, regarding the highly negative momentum), we could see a deeper retracement toward 500 USD. On the other hand, a strong bounce from current levels, might signal a resumption of the bullish trend.
The two different pathways show the most likely outlooks:
The green path shows the best bullish case, while the blue path seems to have a higher likelihood, but therefore offers a better RRR for future long positions.
QQQ Crash Technical Analysis (TA) for Dec. 19Market Overview
The Nasdaq 100 ETF (QQQ) experienced a significant market drop today, reflecting a bearish sentiment in technology-heavy indices. The broader sell-off has pushed QQQ down to critical technical levels, where a combination of support zones and gamma exposure levels could offer insights for the next trading sessions.
Market Structure Analysis
* Daily Chart: QQQ broke below its recent upward channel support at $525, with today's close significantly below the 9-EMA and 21-EMA, signaling bearish momentum.
* Hourly Chart: A sharp sell-off occurred during today's session, with a brief recovery toward $517. However, the current volume profile indicates strong selling pressure near the $525 resistance.
Supply and Demand Zones
* Immediate Resistance Zones:
* $525.60: Prior support turned resistance, aligning with the gamma exposure wall and heavy put wall.
* $533.14: Additional resistance, coinciding with the upper range of today’s intraday high.
* Support Zones:
* $515: Intraday low support aligning with the highest negative gamma exposure (NETGEX) level.
* $507 and $505: Key demand zones visible from previous consolidations and gamma support.
Order Blocks and Key Levels
* Bearish Order Block: $525 to $533 range has seen consistent selling pressure, forming a robust resistance.
* Bullish Rejection Level: $512-$515 acts as a psychological support zone.
Key Indicators
* MACD: The MACD on both daily and hourly charts has crossed bearishly, with increasing momentum to the downside.
* RSI: Hourly RSI has entered oversold territory (~30), indicating a possible short-term bounce.
* EMAs (9 & 21): The price remains significantly below both EMAs on all timeframes, confirming the bearish bias.
Gamma Exposure (GEX) and Options Activity
* Put Wall: The $519 level represents the highest concentration of puts, acting as immediate resistance.
* Gamma Exposure (GEX):
* Negative GEX levels between $515 and $520 amplify downward pressure.
* Above $525, calls dominate, potentially limiting further upside.
Scalping vs. Swing Outlook
* Scalping Strategy:
* Look for short entries near $525 with tight stop losses above $526.
* Potential target zones: $517, $515, and $512.
* Swing Strategy:
* Wait for confirmation of a close above $525 to consider bullish recovery.
* Downside swing target: $505 if $512 support breaks.
Actionable Suggestions
1. Short Setup:
* Entry: Near $525.
* Stop-Loss: Above $526.
* Target: $515, $507.
2. Bullish Setup:
* Entry: On confirmation above $525.
* Stop-Loss: Below $520.
* Target: $533.
Conclusion
QQQ is in a precarious technical position, reflecting broader market weakness. A further break below $512 could accelerate the downtrend, while a reclaim of $525 could initiate a short-term recovery.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risk accordingly before making trading decisions.
12/3/24 - $qqq - quick comment on "risk"- by now it should be obvious that this isn't "normal" (hasn't been for over a decade, but esp in the last year). M2 turned positive and risk assets followed especially as labor mkt data started "allowing" fed to cut
- but remember, inflation gauges are heading higher. oil probably only has one direction (energy is a big driver) and consumers are ape'ing on basically everything w/ credit card debt exploding higher. amazing!
- what concerns me, though is this next fed mtg...
1/ any "cuts" won't really move the needle in terms of truly looser monetary policy
2/ mkts are already at nosebleed highs (let's just use PE e.g. 2-3% vs. 10Y rates)
3/ any indication that the fed is going to not keep with the current programming (b/c let's face it - they're certainly - well who really knows but the dark forces from h3ll - going to accelerate the print bc it's not necessary, look at the mkts!)... which means the only possible direction is possibly more restrictive
4/ now we ARE in year end. there are technically no -ve catalysts on the horizon so to speak, and the mkts need a reason to go down, not up. so the direction holds. i'm happy holding a big allo of BTC, NXT, TSM, META and NVDA and some select other stuff in that order. it's working well and i genuinely think the valuations for these are (ironically) decent
5/ but beware. that if the mkt starts to get the picture of what i'm spelling out above... it won't be next week where you get a pullback (i'm not calling for something extreme, but 5-10% will cause tears for a lot of leveraged low IQ types and zero them quickly)... but i'm prepared with a healthy cash balance, a bunch of shorts (today it's PLTR in size, SG which i've been monetizing a bit, NN, SMR also monetizing a bit and some B2B stuff that just got too expensive like TEAM which i actually like but i digress).
just good to be aware of where we're at. try typing in "QQQ/M2" into trading view and look at monthly or 3M candles. note anything interesting? it's best to normalize by money supply one way or another. when and where did we last reach these levels ;)
stay vigilant and don't drink too much. the party continues but it's good to remember the exit than be woken up with some unfortunate pictures of your PnL. could have, should have.
V
[GEX] levels for QQQFirst, let’s examine what we see on our chart using options indicators:
Summarizing the GEX levels through December 26, we have a strong call wall at around 540. If price can break above and hold that level, it could easily pave the way toward 550. However, if we’re expecting a Christmas selloff after Friday’s close, this bearish assumption might prove worthwhile.
This brings up a point that often comes up:
“How do I interpret whether the optoins indicator is bullish or bearish?”
There’s no such definitive signal! The levels and options metrics show certain conditions, but no one can tell you exactly what will happen next. This is where you need to have a directional hypothesis. Once you have it, the indicators can help you fine-tune your positioning, identify realistic targets, and select viable legs—but they won’t decide your directional stance for you.
For example, while everything may look bullish, let’s say you have a contrarian bearish view. Then you can see where it makes sense to position yourself.
Test Case Chosen:
8x QQQ Dec 24th – Dec 26th 525 Calendar Put Spread
Max Loss: $216
Max Profit: $1,685
PoP: 45%
Why not?
(GET READY) QQQ's Expected move for FOMCAll right so we are right at the 35 EMA you could see that we’ve had a pretty strong rally along that level since the beginning of December we did drop underneath that for two trading days but then we got back above it with CPI and continue to rally so 35 EMA huge level right in the middle of our trading range.
The implied move for today is between 530 and 542 for tomorrow. It’s 528 to 543 and four the 30 day average 527 to 545 and that 35 EMA is the big level in our trading range underneath that we do have that up gap from Monday up and then consolidated back to the 35 EMA for FOMC. Five 3915 is where we have previous all-time highs. That is a little more than halfway up our implied move then 542 is the top of the implied move today 543 tomorrow underneath us that gap the bottom of that gap is 530. That is also the bottom of our implied move 528 is the bottom of the implied move tomorrow on Thursday and we have that 30 minute underneath all of that and we also do have that gap from last Friday that is sitting right on top of that 30 minute 200 moving average as well
Sorry that this is just one lot run-on sentence today. I’m used to making the videos and just speaking it out and this is speech to text. Hope y’all can make out what I’m saying. Lol
QQQ: Technical Analysis (TA) & GEX Insights for Dec. 181. Daily Chart (1D)
* Trend: QQQ continues its uptrend within a rising channel. The price has broken through upper resistance and is testing the top of the channel.
* Support/Resistance:
* Immediate Support: 525.60
* Major Support: 513.30
* Resistance Zone: 539.15 (current high)
* Indicators:
* MACD: Bullish momentum but signs of flattening, suggesting a possible slowdown.
* Volume: Decreasing slightly as price rises, which may indicate weaker buying pressure.
Outlook (Daily):
* Bullish Scenario: If QQQ holds above 535, a retest of 539-540 is possible.
* Bearish Scenario: A break below 535 could see a retracement to 525.
2. Hourly Chart (1H)
* Trend: Short-term weakening with signs of rejection near 539. The price is currently pulling back to test the mid-channel support.
* Support/Resistance:
* Support: 533.10 (current area), followed by 530.00
* Resistance: 538.80, 539.15
* Indicators:
* MACD: Bearish crossover forming, indicating momentum shift to downside.
* Volume: Increased selling pressure near resistance zones.
Outlook (Hourly):
* A pullback to 533 is likely, with potential for further downside to 530 if support breaks.
3. GEX Analysis
* Gamma Walls:
* 535: Highest negative NETGEX (PUT Support Zone). Breaking below this could accelerate selling pressure.
* 539: Small resistance wall.
* 529: Positive Gamma Call Wall indicating strong support.
* Options Oscillator :
* IVR: 16.6 – Low implied volatility.
* GEX: Mixed bias with PUTS at 21.3% dominance.
* Interpretation:
* Market makers are hedging around 535. A break below could trigger larger put-side moves to 532 or 529.
Trade Outlook:
* Scalping:
* Bullish Setup: Long at 533 with stop-loss at 530 and target 538.
* Bearish Setup: Short below 533 targeting 530 or 529.
* Swing Trade: Watch for confirmed rejection at 539 or strong support at 533 for trend continuation setups.
Conclusion:
QQQ is showing short-term weakness while remaining within a broader uptrend. Key levels to watch are 535 for support and 539 as resistance. Traders should monitor Gamma exposure around 535 for directional bias.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risk appropriately.
QQQ Near Key Resistance! Will Bulls Hold the Momentum? 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.
Maximize Your Gains: QQQ Looks Strong for Next WeekRecent Performance: The Invesco QQQ Trust has shown remarkable bullish
momentum, recently hitting an all-time high while other indices like the Dow
and Russell have struggled. In contrast, the S&P 500 has moved sideways,
highlighting QQQ's dominance, primarily powered by robust technology sector
performance.
- Key Insights: Maintaining support above 526.72 is critical for QQQ's potential
gains next week. The market sentiment leans positive, especially with
anticipated rebounds in small-cap stocks and ongoing strength in tech
stocks. Investors should focus on the broader patterns in the tech sector as
well as relevant economic indicators that could impact performance.
- Expert Analysis: Market experts emphasize the importance of QQQ staying above
its support levels, particularly the significant level of 526.72. They
anticipate that if QQQ holds this level, it could pave the way for
additional upside, correlating positively with small-cap stocks as they
potentially rebound. The resilience in leading technology stocks reinforces
a bullish sentiment for QQQ going forward.
- Price Targets: For next week, targets and stops are outlined as follows:
- Next week targets: T1: 533.36, T2: 538.70
- Stop levels: S1: 526.72, S2: 524.04
- News Impact: Recent earnings reports from major tech players like Broadcom
have contributed to the bullish momentum in QQQ, underlining the index's
sensitivity to sector-specific news. The broader economic landscape also
remains relevant, with macroeconomic indicators influencing market
sentiment. As QQQ continues to capitalize on positive developments within
the tech sector, investors should stay alert to both stock-specific
performance and overall market trends.
The chart reflects bullish price action supported by key elementDetailed Analysis of the Chart:
Yellow Trend Line (Bullish Bias):
Price remains in a clear uptrend (yellow lines), moving consistently higher while respecting the ascending support trend line.
This bullish trend is reinforced by multiple Bullish Fair Value Gaps (FVG) that acted as strong support zones for upward momentum.
Volume Observations:
Volume increases during significant upward movements (e.g., 3.47M, 3.755M), indicating institutional support for price at these levels.
However, volume slightly declines near the hammer candle at a recent high, signaling potential exhaustion.
Key Levels:
. 50 Fibonacci Extension: Price is approaching this level, which may act as a short-term resistance.
If price fails to break above this extension, a pullback to test previous Bullish FVG zones is likely.
Red Trend Line (Bearish Scenario):
If price breaks below the yellow uptrend and Monday’s open confirms bearish momentum, the red trend line highlights a potential reversal setup.
A Bearish FVG forming after this breakdown would provide confluence for short entries upon a retest of the red FVG.
Hammer Candle:
The recent hammer at a high could signify a potential reversal signal. This often occurs when buyers fail to push prices higher, allowing sellers to gain control.
Bias Sentiment for Monday’s Open
Scenario 1: Bullish Continuation (Primary Bias)
If price respects the yellow trend line and maintains its bullish structure, expect a continuation upward. A break above the .50 Fibonacci Extension would confirm this sentiment.
Entry Idea: Look for long positions near the bullish FVG zones or upon a clean break of recent highs.
Scenario 2: Bearish Reversal (Secondary Bias)
If price opens bearish and breaks below the yellow uptrend, the focus shifts to the red trend line and the Bearish FVG retest.
Entry Idea: Wait for a Bearish FVG to form on a pullback and consider short positions on a confirmed retest for lower liquidity zones.
Summary
Primary Bias: Bullish continuation with price maintaining the yellow uptrend.
Secondary Bias: A break of the yellow trend line signals bearish momentum, with the red trend line and Bearish FVG retest as confluence for short positions.
Key Focus: Monitor price action near the yellow trend line support, .50 Fibonacci Extension, and any bearish signals (FVG) if Monday opens weak.
Come back Monday at 9am for a market and chart update.
