Weekly QQQ (NQ-US100) Outlook - Prediction
📊 Market Sentiment
Market sentiment is driven by fear at the moment. In my opinion, we are trading inside a bearish zone. Unless we get meaningful data or positive news, I expect the market to continue declining. Core PPI will be released on Tuesday at 08:30, which could create a minor bullish reaction; however, I personally do not think this will shift the overall sentiment. PPI is not a strong catalyst for a major sentiment change, so bearish conditions are likely to remain in play.
📈 Technical Analysis
Price ran the 613 level strongly and reversed aggressively on Thursday after NVDA earnings. This move trapped the bulls and filled institutional put positions. As I mentioned on Thursday evening, a weak bounce was possible and that is exactly what occurred.
📌 Outlook – Prediction
Scenario 1 (Bearish Scenario):
I believe this scenario is more likely to play out. I expect price to retrace toward 559. If we see strong bullish momentum on Monday, I will likely become more cautious with my puts.
Scenario 2 (Bullish Scenario):
If price shows strong momentum on Monday and reprices toward 614, then I will consider buying calls around 606, targeting all-time highs afterward.
Follow me for daily SPY–QQQ updates. I will update the idea based on evolving price action.
💬 For detailed insights and broader market context, please check my Substack link in profile.
⚠️ For educational purposes only. This is not financial advice.
📊 Market Sentiment
Market sentiment is driven by fear at the moment. In my opinion, we are trading inside a bearish zone. Unless we get meaningful data or positive news, I expect the market to continue declining. Core PPI will be released on Tuesday at 08:30, which could create a minor bullish reaction; however, I personally do not think this will shift the overall sentiment. PPI is not a strong catalyst for a major sentiment change, so bearish conditions are likely to remain in play.
📈 Technical Analysis
Price ran the 613 level strongly and reversed aggressively on Thursday after NVDA earnings. This move trapped the bulls and filled institutional put positions. As I mentioned on Thursday evening, a weak bounce was possible and that is exactly what occurred.
📌 Outlook – Prediction
Scenario 1 (Bearish Scenario):
I believe this scenario is more likely to play out. I expect price to retrace toward 559. If we see strong bullish momentum on Monday, I will likely become more cautious with my puts.
Scenario 2 (Bullish Scenario):
If price shows strong momentum on Monday and reprices toward 614, then I will consider buying calls around 606, targeting all-time highs afterward.
Follow me for daily SPY–QQQ updates. I will update the idea based on evolving price action.
💬 For detailed insights and broader market context, please check my Substack link in profile.
⚠️ For educational purposes only. This is not financial advice.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.