Weekly GEX levels of QQQNASDAQ:QQQ began the week in positive territory at Monday’s open, with the current gamma profile projecting positive momentum through Friday as the price is positioned above the HVL level (496). Notably, below this HVL level is a substantial "vacuum" area, so if the High Volatility Level (496) fails to hold, we could quickly see a drop to 485, where Gamma Walls provide PUT resistance at 485, 482.5, and 480.
Key levels to note are:
Highest Call Wall / Call Resistance (500): This level, with the highest positive Net GEX value, may act as a significant resistance. Price momentum may slow upon reaching this level, as positive gamma stabilizes the movement. However, if it breaks through, 505 and then 510 could come into play.
2nd Highest Call Wall (510) and 3rd Highest Call Wall (505): These additional resistance levels could present further obstacles as QQQ’s price moves up, both showing high positive gamma activity that may limit upward momentum.
PUT Gamma Wall / Put Support (480): This is the most important support level, where negative gamma presence may buffer price drops. However, if this level is breached downward, declines could accelerate.
2nd Put Wall (485) and 3rd Put Wall (482) : These levels may serve as additional support points, providing buffers in case of further price declines.
83455 trade ideas
QQQ Ascending ChannelThis is basically the same as the SPY idea. I have a longer term short idea for NQ, but here's a shorter term chart for the potential move up to my short target. Watching the $495 area along with the ascending channel. We could get a move below that bounces at the gap fill at $492.80, but if it remains above $495 I'd expect a move up to ATH.
QQQ Ascending ChannelThis is basically the same as the SPY idea. I have a longer term short idea for NQ, but here's a shorter term chart for the potential move up to my short target. Watching the $495 area along with the ascending channel. We could get a move below that bounces at the gap fill at $492.80, but if it remains above $495 I'd expect a move up to ATH.
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$QQQ Analysis, Key Levels & Targets for 10.24.24OK, here in QQQ we bounced yesterday after a really big drop on the one-hour 200 moving average. 486 is the bottom of the implied move for the week, and that is also where we bounced. So, the two levels together caught us. Now, to the upside, we have the 30-minute 200 moving average. We did crush through that level without much support there and then dropped down to the one-hour average. Right above that, we have the 35 EMA on the 30-minute timeframe; those two levels are extremely important. If the 35 EMA crosses underneath the 30-minute moving average, then we are bearish. However, this can suggest a sufficient enough pullback, and we can bounce here. In which case, 494 is the top of the implied move, and 495 is the top of the implied move on Friday's contract. At the very top of the trading range, we do have the down gap from yesterday; the gap is at 496.
And to the downside, we do have that one-hour moving average which caught us yesterday, just underneath that 486, which is the bottom of the implied move for the whole week, based on how we closed last week. Underneath that, 484 is the implied move for the day; we have the 50-day moving average underneath that, and then 482 is the bottom of the implied move on Friday's contract. So, if we do drop, I would suggest 483/482 bull put spreads since that would be tucked away underneath the 50-day moving average.
$QQQ - Analysis, Key Levels & Targets for 10.23.24In QQQ, the implied move for tomorrow is between 492 and 500, based on options data. The 30-day average daily volatility adds a dollar to each direction, giving a range of 491 to 501. On Thursday’s contract, the range is a dollar wider, from 490 to 502. Tesla’s earnings report tomorrow could explain the wider range on Thursday.
The 35 EMA is below us, and though it has been a bit sloppy, it has held as support so far this week. If we continue to hold this level and see it as support, the next target is 499, where we saw resistance last week. Last Monday, we gapped up above the previous bear gap, hit 499, and then met resistance. We haven’t returned to that level since. 499 is just below the top of tomorrow’s implied move at 500, while the top of Thursday’s implied move is at 502.
If we break below the 35 EMA tomorrow, the next target is 492, which is the bottom of the implied move. 490 is the bottom of the implied move on Thursday’s contract. Between these levels, we also have the 30-minute 200 MA and support at 491, which we saw last Thursday and again this Monday. This creates a solid trading range. If we drop tomorrow, the 492/491 bull spreads look good, and a slightly safer option would be the 491/490 bull spreads, as the 30-minute 200 MA would provide additional support.
Top 5 Weekly Trade Ideas #4 - QQQ Supply ShortThis is a countertrend idea, but I think this supply zone above has a high probability of producing at least one rejection on the first test. If it doesn't then we're almost surely going to a new ATH I'd say.
I'll look for shorts at supply depending on what VX is doing at the time. Stop above $499, targeting $479. You could also wait for this channel to break to the downside before shorting for more confirmation and maybe get a retest.
QQQ What Next? SELL!
My dear subscribers,
My technical analysis for QQQ is below:
The price is coiling around a solid key level - 494.52
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 492.20
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
———————————
WISH YOU ALL LUCK
QQQ: Market of Sellers
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the QQQ pair which is likely to be pushed down by the bears so we will sell!
❤️ Please, support our work with like & comment! ❤️
$QQQ #QQQ Symmetrical Wedge SqueezeInvesco QQQ Trust, has been ranging in between this symmetrical triangle pattern. It looks ready for a breakout move to the top side although it is good to watch both sides for the move.
Scenario 1: If we breakout the resistance side (Which we've had trouble all day today (opex volatility)) we may see the target $498.43 resistance hit sometime next week.
Scenario 2: If we break below the support side we have 2 gap fills that need filling. Main target for this is the $490.56 gap fill and daily support.
I am leaning more towards the bullish side breakout for this trade as I anticipate an increase in volume going into next weeks markets.
QQQ Technical Analysis for October 18, 2024Chart Insights and Market Structure
From the 1-hour chart, QQQ (Invesco QQQ Trust) is moving within a descending channel or wedge structure, hinting at a potential breakout in either direction, but likely leaning towards consolidation for now. Here are the key technical levels and insights:
Support Levels:
487.55: This level acts as immediate support, where buyers may attempt to defend.
486.09: Critical short-term support—if breached, expect a retest of lower levels.
483.64: This is the next significant support zone and a key psychological level.
Resistance Levels:
490.17: Immediate overhead resistance that QQQ needs to break to gain upward momentum.
492.47: A stronger resistance zone; reclaiming this could indicate further upside toward 496.90.
498.83: If the price rallies above this level, it could mark the start of a larger bullish trend.
Descending Channel/Wedge:
QQQ is trading within this structure, which typically suggests a potential breakout. A bullish breakout would signal a reversal, while continued price action within the wedge indicates ongoing consolidation.
Indicators & Volume Insights
MACD: The MACD is currently neutral with no strong trend signal. Watch for potential crossovers or momentum shifts for confirmation of the next move.
Volume: The chart indicates declining volume during the consolidation. A breakout accompanied by increased volume will confirm the direction of the next major move.
Trading Scenarios for Tomorrow:
Bullish Case:
If QQQ breaks above 490.17 and sustains above 492.47, we could see a move toward 496.90 or 498.83. Look for strong volume on the breakout for confirmation.
Bearish Case:
If the price falls below 486.09, expect a retest of 483.64. A breakdown below this zone could trigger further selling pressure, potentially toward lower unmarked levels.
Additional Considerations:
Watch QQQ and SPY Correlation:
Given the similarity in patterns between large ETFs like SPY and QQQ, keep an eye on both. A coordinated breakout or breakdown across indices could provide stronger confirmation.
Impact of Earnings & Macro Data:
QQQ is tech-heavy, so any news around tech earnings or macroeconomic announcements could influence the price action significantly.
Tips for Trading QQQ Successfully:
Patience: Wait for breakouts with confirmation (volume and candlestick patterns) to avoid false moves.
Risk Management: Place stop losses below key support levels to protect against sudden market reversals.
Scalp with Precision: Given your interest in scalping, focus on high-volume periods (market open or major news) to catch quick price movements.
Disclaimer:
This analysis is for informational purposes only and not financial advice. Always conduct your own research before trading and manage risks according to your capital.
QQQ Technical Analysis – October 17, 2024Price Overview:
Ask: 493.44
Bid: 493.42
Recent High: 496.90
Current Support Level: 490.91
Critical Support: 487.57 (recent low)
Key Observations:
Trendlines & Price Action:
QQQ is currently testing the upward trendline, hinting at whether bulls will defend this area.
After a sharp rally, the price is pulling back, consolidating between 493.42 and 491.68. If it holds above 490.91, it might resume an upward move.
487.57 marks a critical support level, which could be revisited if the trendline fails to hold.
Volume Analysis:
Increased selling volume accompanied the recent pullback, suggesting some profit-taking.
Watch for a volume surge at 490.91—if buyers step in, this could create a strong bounce opportunity.
MACD Indicator:
The MACD lines are crossing up, signaling a potential recovery in momentum.
A continuation above the zero line on the histogram would confirm a bullish trend reversal for the day.
Scenario Analysis:
Bullish Case:
If QQQ holds above 490.91 and breaks above 493.24, it may aim for a retest of 496.90.
A strong close above 495 would signal that the bulls are back in control and targeting new highs.
Bearish Case:
If the price breaks below 490.91, expect a test of 490.09 and possibly 487.57.
A failure at 487.57 could lead to more downside, possibly opening the door to 485 or lower.
Trading Strategy:
Long Setup:
Consider entering a long position if QQQ holds 490.91 and reclaims 493.24.
Place a stop-loss just below 490.00 to manage risk.
Short Setup:
If QQQ breaks 490.09 with strong selling pressure, a short position could target 487.57 or lower.
Place a stop-loss just above 491.00 to protect the trade.
Outlook for the Day:
Watch the 491.68–490.91 area closely. If buyers maintain control, a bounce could lead to another rally toward 496.90. However, if bears push it below 490.09, the selling pressure could intensify.
Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Always perform your own research and consult with a professional before making any trading decisions. Trading involves risks, and you may lose more than your initial investment.
Two weeks of bullish momentum ahead?I entered a long position in the NASDAQ:QQQ ETF a few days ago after the price pulled back to the previous high. It was a slightly premature entry, as the price continued to pull back to the 50% retracement level of the last bullish move. 😉
The overall chart looks a bit exhausted from the bullish run following the August low, but I still expect the NASDAQ to rise until the US election. Statistically, since the 1950s, there has been over an 80% chance that the stock index rises before the election.
Additionally, we're supported by the SMAs, and there’s still some room left until the ATH is reached.
Good trades, folks!
$QQQ Analysis, Key Levels & Targets for 10.17.24
Tomorrow’s Implied move is between 486 and 496 and that is from options.
The 30 day average volatility is between 485 and 497 and that also lines up with the implied move on Fridays contract - and that’s the strike I’ll be looking to if we pop to sell bear call spreads. (I’m thinking 497/498 or 496/497, not sure yet lets see how we open)
To the upside look first to the 30min 35EMA - we are under it, printing red candles so treat that as resistance until we break above it. I’m guessing that if NYSE:TSM earnings come in great and we see a move up there then 496 will be the Target on the day. 30min 200MA is under us and we bounced there today and the last few times we met with that level.
Bottom of the implied move is 486, and 485 on Fridays contract and if we drop, I’ll be looking to 485/484 bull put spreads on the day most likely.
If all of that breaks then 480 is the next support so look for a big fun move if that happens.
GL tomorrow, y’all
QQQ – October 16, 2024Key Levels:
Support:
487.58 (current low)
484.00 (next potential support with volume interest)
Resistance:
494.22 (previous pivot high)
498.18 – 498.83 (major resistance zone)
Indicators & Observations:
Moving Averages:
The shorter EMA (possibly 15 EMA) is sloping downward, indicating short-term bearish pressure.
The longer EMA (likely 161 EMA) is above the price, confirming a bearish trend continuation.
MACD:
The histogram is deepening into negative territory, suggesting increasing bearish momentum.
The MACD line has crossed below the signal line, signaling a potential continuation to the downside.
Volume Profile:
Current Price Region: The bulk of the volume sits between 484 – 487, making this a key support zone. A breakdown below 484 may trigger further downside quickly due to the low-volume gap beneath.
Volume Increase: The large red candle is accompanied by higher volume, which shows strong bearish participation at the open.
Price Action:
QQQ attempted to push higher but failed to reclaim 494.22. The current momentum suggests bearish continuation if it fails to hold above 487.58.
If the selling pressure continues, a test of the 484 level is likely.
For upside potential, the price must reclaim 494.22 and stay above for bulls to regain control.
Scalping Strategy Setup:
Short Setup:
Look to short on a rejection from the 490 – 494 range, targeting 487 or lower.
Long Setup:
Consider long entries if the price reclaims 494.22 with strong volume, targeting the 498 resistance zone.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research or consult a financial professional before making any trading decisions. Trading carries significant risks, and you may lose more than your initial investment.