$QQQ Analysis, Key Levels & Targets for 10.17.24

Tomorrow’s Implied move is between 486 and 496 and that is from options.
The 30 day average volatility is between 485 and 497 and that also lines up with the implied move on Fridays contract - and that’s the strike I’ll be looking to if we pop to sell bear call spreads. (I’m thinking 497/498 or 496/497, not sure yet lets see how we open)

To the upside look first to the 30min 35EMA - we are under it, printing red candles so treat that as resistance until we break above it. I’m guessing that if TSM earnings come in great and we see a move up there then 496 will be the Target on the day. 30min 200MA is under us and we bounced there today and the last few times we met with that level.

Bottom of the implied move is 486, and 485 on Fridays contract and if we drop, I’ll be looking to 485/484 bull put spreads on the day most likely.

If all of that breaks then 480 is the next support so look for a big fun move if that happens.

GL tomorrow, y’all