**$QQQ Pre-Market**
Already trading below the GEX flip at 586.75. Flip is $587 — dealers are net short below it.
Levels I'm watching:
* $590 = strong call wall resistance ($18.44M) — needs to reclaim this to flip bullish
* $587 = GEX flip line. Rejection here confirms the move
* $580 = massive king node ($21.38M) — first target, expect a bounce
* $570 = put wall floor if $580 cracks
Simple: below $587 → path to $580. Bounce at $580 likely. Break below → $570.
Same story as SPY. 587 is the flip — below it dealers go net short and volatility expands downward. Price is sitting right on it at 586.75, already slightly below.
**Below 585** → Negative GEX confirmed, 580 king node is the magnet ($21.38M). That's a big level — expect a bounce there. If it cracks → 570 Put Wall.
**Reclaim 590** → Dealers flip long, 595 king becomes the target, then grind toward the 590 Call Wall resistance.
**Thesis:** QQQ already broke below the flip. Unless it reclaims 587-590 quickly at open, path of least resistance is 580. The $21.38M at 580 will likely hold first touch.