QQQ Technical Analysis and GEX Insights for Option Trading

Technical Analysis (TA) Overview:
* Timeframe: 4-hour chart.

* Current Price Action: QQQ is consolidating after a sharp recovery from recent lows near $500. Key resistance at $533.82 and support at $499.61.

* Trendline Breakout: Prices are respecting an upward trendline, indicating strength. However, potential resistance near $523, as highlighted by historical levels and GEX walls.

* Indicators:
* MACD: Positive crossover, signaling bullish momentum.

* Stochastic RSI: Near overbought levels, which may suggest potential pullback or sideways consolidation.

Key GEX Insights for Options:

* Gamma Resistance Levels:
* $533.82: Highest positive NETGEX resistance.
* $523: Second CALL wall with significant gamma concentration.

* Gamma Support Levels:
* $510: Third PUT wall with 78.45% gamma exposure.
* $500: Strong PUT wall, marking critical support at 89.78% NETGEX.

* Implied Volatility (IV):
* IVR: 21.4, indicating moderately low relative volatility.
* IVx Average: 23.6.
* Put-to-Call Ratio: Skewed bearish with 31.6% puts, suggesting hedging activity.

Actionable Trade Setups:
1. Bullish Scenario:
* Entry: Above $523 after confirmation of breakout.
* Target: $533.82, aligning with gamma resistance.
* Stop-Loss: Below $520, accounting for a false breakout.

2. Bearish Scenario:
* Entry: Below $510 with increasing selling pressure.
* Target: $500, gamma support zone.
* Stop-Loss: Above $513.

Key Notes for Traders:
* Gap Risk: Prices might gap up/down at market open due to overnight data or sentiment. Adapt your plan accordingly.
* For updated setups during market hours, feel free to message me directly.

Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always perform your due diligence and trade responsibly.