Joshua ODell | NQ

Futures trader focused on NQ.
Using gamma levels and price structure to map intraday moves.
Daily game plan ↓

[Joshua ODell | NQ @LiquidityMaps]

I trade NQ using gamma levels and price structure.

No indicators. No noise. Just levels and reaction.

Daily game plan here:
https://t.co/j2vLJ1fjLS

[Joshua ODell | NQ @LiquidityMaps]

@leadlagreport The Yen carry trade is definitely a very large factor.

The entire bull market? I’m not so sure.

Markets are rarely driven by a single source variable. Liquidity, earnings, positioning, and capital flows all matter.

[Joshua ODell | NQ @LiquidityMaps]

@KobeissiLetter This is why I spend as much time studying positioning and rotation as I do the index itself.

Capital rarely disappears overnight, it usually moves somewhere first.

Understanding where it's flowing is often more important than simply watching the S&P 500.

[Joshua ODell | NQ @LiquidityMaps]

Agreed I tell people this all the time.

It’s all about the preparation and building your what if scenarios for where, when and what you need to see to act. Imagine giving a presentation in front of thousands of people on a few hour notice. Now imagine having weeks to prepare….you will be much more relaxed and able to deliver likely.

It’s the same philosophy with trading: prepare ahead of time so when the madness starts, you are grounded and not enticed to react because that is what they want you to do.

[Joshua ODell | NQ @LiquidityMaps]

Very interesting indeed.

If volatility actually materializes, dealers who are forced to hedge can accelerate market moves.

But if volatility never arrives, those hedges eventually become unnecessary and volatility compression can become a tailwind for equities.

Positioning itself isn't the signal. The market's reaction to that positioning is.

[Joshua ODell | NQ @LiquidityMaps]

@PharmD_KS Well said....my theme today was patience at the edges as well and if you were, you could have caught two rips off the lows.

[Joshua ODell | NQ @LiquidityMaps]

Today's pre-market theme was simple: patience at the edges.

#NQ_F probed below the weak low area at 29,575 twice today.

Both times, buyers stepped in and produced 150-200 point rallies.

Eventually, failed downside exploration becomes information.

This is why I focus on reacting at the inflection points rather than trading the middle of the range.

[Joshua ODell | NQ @LiquidityMaps]

Great stuff and we had a similar opportunity with #NQ_F. One of the key scenarios in today's gameplan was an initial drive lower, sweep of the ONL followed by a quick reclaim.

Initial objective at the balance area low (29,920) was achieved for ~240 NQ points and still going if you have runners.

[Joshua ODell | NQ @LiquidityMaps]

@spotgamma Haha best take yet....maybe not a market top, but definitely signs of potential VOL spasm like you correctly called.

[Joshua ODell | NQ @LiquidityMaps]

@KobeissiLetter This is exactly why positioning matters.

In low volatility environments, moves often stay contained…until participants are suddenly forced to react all at once.

[Joshua ODell | NQ @LiquidityMaps]

One thing I've been wondering lately:

AI may not be eliminating jobs nearly as much as it's exposing where we've underinvested for decades.

Infrastructure, energy, manufacturing, and skilled trades all seem to be re-emerging simultaneously. We left those jobs behind because they were not "sexy" anymore.

This feels bigger than an AI story.

[SpotGamma @spotgamma]

Consider yourself warned.

[Joshua ODell | NQ @LiquidityMaps]

Today's #NQ_F gameplan was titled: "Balance Until Proven Otherwise."

$NQ traded directly to the balance area high and backed off 300+ points.

That's not necessarily bearish. It's simply the market continuing to do what balanced markets do: facilitate two-way trade inside a larger range.

The afternoon could look completely different, but that's why we react instead of predict.

The market will eventually tell us when it's ready to leave balance.

[Joshua ODell | NQ @LiquidityMaps]

Feels like we’re stuck in an endless loop.

New agreement….new violation….new threat…new agreement (again).

Each new headline is producing a smaller move in oil, volatility, and equities than the one before it.

Markets may finally be shifting from pricing headlines to pricing probabilities.

[Joshua ODell | NQ @LiquidityMaps]

@LumiTraders Nope right at trend line support. Need to break that (and probably lose an EMA) to get short

[Joshua ODell | NQ @LiquidityMaps]

One of the biggest mistakes traders make is feeling like they have to win every day.

Sometimes the edge is recognizing that today's environment may be choppy, headline-driven, and lacking conviction.

The goal isn't to trade more.

The goal is to survive so you're available when the real opportunities present themselves later in the week.

That's the framework I'm bringing into today's session.

#ES_F $SPY #NQ_F $QQQ

[Joshua ODell | NQ @LiquidityMaps]

@spotgamma So you are saying go out short on Thursday evening? Asking for a friend of course 🤣

[Joshua ODell | NQ @LiquidityMaps]

@KobeissiLetter This may be why "the economy is strong" and "people don't feel wealthy" can both be true at the same time.

Asset prices have largely recovered, but purchasing power hasn't.

[Joshua ODell | NQ @LiquidityMaps]

@AJA_Cortes @DissentFu Everyone wants the billionaire or now trillionaire outcome. Few want the years of obsession, uncertainty, stress, and sacrifice that usually come before it. People envy the scoreboard but ignore the work that built it.

[Joshua ODell | NQ @LiquidityMaps]

@KobeissiLetter Today wasn't just a stock debut.

It was the transition from private price discovery to public price discovery.

The next few months will tell us whether today's buyers and yesterday's holders agree on what SpaceX is actually worth.

[Joshua ODell | NQ @LiquidityMaps]

The part that stands out to me isn't CPI alone.

It's the growing disconnect between asset performance and household reality.

Financial conditions continue easing while consumers face higher borrowing costs and declining purchasing power.

Strong markets can mask a lot of underlying stress...until they can't.