QQQ Oct. 1 – Holding $600, Gamma Pin in Play

Intraday View (15-Min Chart)
QQQ has been grinding higher but is now consolidating just above the key $600 handle. The wedge channel shows buyers defending dips, though MACD and Stoch RSI are cooling off.
* Support Levels: $598.75, $596.10, $592.78
* Resistance Levels: $600.70, $602.06, $604.01
* Indicators: MACD histogram rolling red, signaling momentum slowing. Stoch RSI back near oversold, suggesting dip-buyers may step in at lower supports.
📌 Intraday Thought (Oct. 1): As long as $598–$600 holds, QQQ can push for $602+. A breakdown under $598.7 risks testing $596 and below. Intraday scalpers can play the $600 line for both quick bounce longs or rejection shorts.

Options & Swing View (1H + GEX)

Options flow paints a gamma box around $598–$602.
* Upside: Gamma wall at 602, with extensions toward $604. A break above 602 could open momentum toward 605+.
* Downside: Heavy put support at $595, with deeper levels down near 590.
This positioning suggests QQQ may chop between 598–602 near-term unless a catalyst pushes it out of range.
* Bullish Play (Oct. 1): Calls or spreads targeting $602–$605 if $602 breaks with volume.
* Bearish Play: Puts toward $595–$592 if $598 cracks.
* Neutral Play: Sell iron condors between $598–$602 while pinned.

My Thoughts (Oct. 1)
QQQ is showing a classic gamma pin scenario at $600. Market makers may try to keep price trapped here, but a strong break outside $598–$602 will dictate direction. If tech earnings or macro headlines hit, expect that gamma dam to burst and volatility to expand.

Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risk before trading.