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. 🚀