Weekly QQQ (NQ-US100) Outlook - Prediction (23 NOV)

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.

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⚠️ For educational purposes only. This is not financial advice.