QQQ at a Key Support! Will Tech Bulls Step In or More Downside?

Technical Analysis for February 27, 2025:
1. Current Price Action:
* QQQ has pulled back and is trading near $513, attempting to stabilize around POC (Point of Control) at $514.49.
* The downtrend remains intact, but there are early signs of a possible base forming near $509-$510.
* A break above $520-$522.50 would shift momentum to the bulls.

2. Key Levels to Watch:
* Support: $509.44 (Current support), $500 (Major downside risk).
* Resistance: $520 (Breakout level), $527.50 (Critical resistance).
* Upside Targets: $530, $540, $550.

3. Indicators Analysis:
* MACD: Bearish, but momentum is slowing down.
* Stoch RSI: Moving higher, signaling a potential short-term bounce.
* Volume Profile: High liquidity near $514-$520, suggesting a battle zone between bulls and bears.

GEX & Option Strategy for Tomorrow and the Week:

1. Gamma Exposure (GEX) Insights:
* Call Walls: $530, $540 → Major resistance.
* Put Walls: $510, $500 → Key downside support.

2. IV & Sentiment:
* IVR: 31.3 (Low)
* IVx Avg: 30.2 (Stable)
* Put Positioning: 63.8% bearish sentiment.
* GEX Sentiment: Heavily bearish, but a reclaim of $520 could trigger a shift.

3. Trading Suggestions:
* Bullish Setup: If QQQ reclaims $520, consider long positions targeting $527-$540, with a stop at $515.
* Bearish Setup: If QQQ fails to hold $510, short setups targeting $500, stop at $515.
* Options Play: Selling put spreads at $500 or call spreads near $540 resistance.

📌 My Thoughts & Suggestion:
* QQQ is sitting at key support ($509-$510)—holding here could lead to a bounce toward $520+.
* If QQQ breaks below $509, expect more downside toward $500.
* Volatility remains low, making directional long options attractive.

⚠️ 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. 🚀