QQQ at Crossroads! Big Move Incoming? Mar17 Week

Quick update on QQQ with a look at the 4-hour chart.
📈 Technical Analysis (TA):
* QQQ is at a critical resistance zone around $479-$480—key decision level here.
* Recent Change of Character (CHoCh) suggests bulls might take control if price breaks higher.
* Strong support formed at a Break of Structure (BOS) around $466; keep this level on radar if price pulls back.
* Watch closely the next resistance zones around $495 and a major overhead barrier at $502.

📊 GEX & Options Insights:

* High negative NET GEX at $466 marks critical PUT support—a strong floor area.
* CALL resistance appears clearly around $495-$510, with a significant gamma wall forming.
* IV Rank moderate at 42.8%, indicating reasonable premium—suitable for spreads or moderate premium selling strategies.
* PUT sentiment at 32.5% signals bearish bias, keeping bulls cautious.

💡 Trade Recommendations:
* Bullish Play: Wait for a confirmed breakout above $480 for a bullish run to $495 initially, and possibly higher towards $502. Set stops tight below $475.
* Bearish Play: Look for a clear rejection at $480 to enter puts targeting the support at $466.
* Neutral traders might explore credit spreads or Iron Condors between clear zones ($466–$495).

🛑 Risk Management: Ensure disciplined stop-loss placement, especially in this range-bound scenario.
Stay safe and trade wisely!
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.