$QQQ Today's Trading range for 12.5.24

In QQQ, we are overbought, overextended, and the 35 EMA is underneath the implied move for the day which often signals down or flat day

The implied move for today is between 519 and 527 and that is from options

The 30 day average volatility between 515 and 532

And the implied move on Friday’s contract 518 to 529.

Here, we are also just under all-time highs we made that in the last candle yesterday that is the only level to the upside and then 527 is the top of the implied move.

We have the 35 EMA underneath the implied move within that up gap from yesterday that does signal down or a flat day normally 519 is the bottom of the implied move. Bottom of that gap is, 517 and 518 bottom of the implied move on Friday’s contract