QQQ Bullish Continuation

The chart favors continuation higher with risk of a small dip, not a breakdown

• QQQ is pressing into $587–$588, right near highs
  
• Price is holding above all key momentum averages (stacked bullishly)
  
• Momentum Indicator at +9.6, which is positive, but not strongly accelerating
  
• Momentum peaked in early summer, but instead of breaking down, it’s grinding sideways & consistent with a “slow grind higher” market
  
• No bearish divergence since price makes higher highs, momentum holding steady
  

Since QQQ is grinding up at highs with supportive momentum

• Buy $590C/Sell $600C (Sept 27 expiry) - cheap defined-risk spread, profit if QQQ pushes another 2% higher
  
• Cost basis should be reasonable since implied volatility isn’t spiking
  
• Call spreads near $590–$600 with a small put spread hedge is the cleanest way to play
  
• This combo is essentially a directional strangle using defined-risk spreads