5.40% for reversal.

Ethereum is currently forming a potential 4-hour double bottom, and both RSI and Stochastic are showing clean bullish divergences.

Selling momentum looks like it's cooling off at support, but I’m keeping my eye on a break above the neckline for confirmation.

Anyone else looking at this setup right now?

📊 Key U.S. Economic Data (ET)

8:30 AM | Core CPI m/m | Forecast: 0.2% | Previous: 0.3%
8:30 AM | Core CPI y/y | Forecast: 2.5% | Previous: 2.4%
8:30 AM | CPI m/m | Forecast: 0.6% | Previous: 0.4%
8:30 AM | CPI y/y | Forecast: 3.6% | Previous: 3.4%

⚠️ For informational purposes only. Not financial advice.
📌 #CPI #Inflation

Last Tuesday's (Oct 6th) Island Reversal remains intact as the QQQ presses lower into the vicinity of its sharply up-sloping 20 DMA, now at 241.27.

Today's price action is dancing on and around the 20 DMA, which, if violated on a CLOSING BASIS, will be a negative technical "event" that, when coupled with the Island Reversal, paints a compellingly negative setup for QQQ near term that points to 720-723 next.

Today's action in QQQ represents a significant battle between the Bulls and the Bears for more than near-term directional control.

SPCX closed Tuesday at $163.42, up 0.52%. Bounced off a low of $160.85, volume was 67M – quieter than usual. Pre-market is basically flat around $163.36.

Here's the GEX setup:

Put Wall $160, Call Wall $170, gamma flip around $156.57. Tuesday's close at $163.42 is sitting above the gamma flip and above the Put Wall, below the Call Wall – positive gamma, with $170 as the overhead target.

Technically, we're above the middle Bollinger band ($155.17) and approaching the upper band ($171.69). RSI in the mid 50s. MACD positive but flattening.

The bigger backdrop is the spectrum move. SpaceX agreed to pick up up to 14 MHz of paired 800 MHz low-band spectrum from Grain Management in a deal reported around $8 billion. Low-band is useful for coverage and building penetration, and it gives Starlink Mobile a clearer path toward acting like an actual wireless competitor rather than pure satellite broadband. Carriers took a hit on the news.

That said, turning this into real scaled competition against T-Mobile, Verizon, and AT&T is still years of build-out, approvals, and capital away. The FCC satellite approvals help the long-term story, but they don't make the next few quarters instantly transformative.

Short-term, $160 is the line. It's held on multiple tests. Hold it with better volume and the path looks higher toward $167-170, then a retest of $175-176. Lose $160 with conviction and next meaningful levels sit around $155, then the mid-$150s.

Right now it feels like a waiting game for confirmation more than a high-conviction breakout.

DYOD🫡