QQQ Trade on May 26, 2022 09:51 from yannitrades: Tradervue User Stock Trades.

News:

08:30:49 USA Continuing Claims for May 13 1.346M vs 1.310M Est; Prior 1.317M
08:30:40 USA Initial Jobless Claims for May 20 210.000K vs 215.000K Est; Prior 218.000K
08:30:30 USA Core PCE Prices for Q1 5.100% vs 5.200% Est; Prior 5.200%
08:30:18 USA GDP (QoQ) for Q1 (1.500)% vs (1.300)% Est; Prior (1.400)%
07:51:17 Fed Explores More Aggressive Interest Rate Hikes To Counter Inflation While Weighing Associated Risks
07:43:06 Ukraine's Deputy Defence Minister Says There Are Signs of Escalation From Russia
05:57:18 Kremlin Said We Do Not Accept Western Accusations That We Blocked Grain Exports From Ukraine; Said West Should Cancel the Decisions Which Prevent the Export of Grain From Ukraine
05:31:43 U.S. Equity Futures Flat Following FOMC Meeting Minutes Wednesday, Weak Nvidia Revenue Outlook

Spot Gamma:

If there is a breakout >4000, 4300 is the upside area wherein negative dealer gamma declines toward 0, and is our “best case” upside level into June OPEX
The 3700 Put Wall is our max downside level into June OPEX
Rallies into June OPEX should be categorized as “short covering” and subject to failure
Mark June 15th (VIX exp.) & June 17th (options exp. OPEX) as a key turning point due to very large expirations and the FOMC (6/15).

notice we broke above spot gamma levels with literally very little res, this is why we short covered rally, based on the options market. Ticks are extremely muted and holding the 0 line and sustaining an uptrend, buy program confirmed at 10

Improvements to be made, perhaps take the pivot breakout at 12 by buying the pull in into 297 at 11:30 and add at 12. Sell into 300. Essentially risking under 296.64 can setup for an easy move to 300 for a great RR trade