$QQQ Analysis, Key Levels & Targets - I sold 500/499 bull puts

Here in QQQ we opened right at the bottom of the trading range right on top of the 30 minute tuna moving average and downward momentum is still strong here. So we may not bounce up very quickly. We may settle somewhere near the 30 minute tundra moving average at the end of the day. We’re underneath the implied move, which is 504. If we do bounce, I think we won’t get too high above 504, but it would be nice to see, bounce back into the implied move to close the week.

I just sold 500/499 bull put spreads (at .26) on the day . So let’s close above 500 today..