QQQ: Technical Analysis (TA) & GEX Insights for Dec. 18
1. 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 [PRO]:
* 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.
* 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 [PRO]:
* 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.
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