QQQ – GEX & Options Sentiment. Aug. 4Invesco QQQ Trust, Series 1BATS:QQQBullBearInsightsThe GEX (Gamma Exposure) profile is leaning heavily bearish. * Highest negative NETGEX / PUT Support sits near 556, and price is trading right under that key gamma line. * The second PUT wall is at 548, while the third PUT wall extends down to 545 — both signal heavy downside gamma if price breaks below current levels. * Call resistance is light, with the first notable wall at 572 and a second at 577. These levels are far above current price, reducing near-term bullish gamma influence. * Options flow sentiment is showing 98.1% Puts vs 1.9% Calls, reinforcing bearish bias in the options market. * IVR sits at 23.4 (moderate), while IV is at 21.9, showing premiums aren’t overly inflated yet — decent for buying directional options. Options Trade Thoughts * Bearish Play: Consider buying near-dated puts or put debit spreads targeting the 548–545 zone if price breaks 551 with volume. * Bullish Hedge: Any sustained recovery above 556 could prompt a short-cover rally toward 565–572, but this is a lower-probability scenario unless macro tailwinds hit. QQQ – 1H Technical Analysis Price is in a clear descending channel, breaking structure multiple times on the downside. * Market Structure: Series of CHoCH → BOS → BOS patterns confirming lower lows and lower highs. * Short-Term Support: 551 is the immediate defense line; loss of this opens the door to 548 and 545. * Overhead Resistance: First at 556 (Gamma line & prior structure), then 565 (structural supply), and finally 572 (Call resistance). * Trend Context: Momentum remains bearish; volume spikes on sell moves reinforce selling pressure. Swing Trade Outlook * Bearish Scenario: Sell rallies into 556–565; stop above 572. Target 548, then 545. * Bullish Scenario: Only consider long if we see a confirmed reclaim of 565 with follow-through. 📌 Disclaimer: This analysis is for educational purposes only and is not financial advice. Always do your own research and manage risk appropriately.