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Spot vs Leverage — Lite (QQQ/NQ)

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The indicator works like a thermometer for the quality of a market move.

Score > +20 → “Spot dominant”
👉 The rise (or price stability) is supported by real buying:

strong cash/ETF/equity inflows,

positive price–volume correlation,

low or negative basis (futures aren’t artificially pulling price up).
→ This is a healthy, structurally solid rally.

Score < −20 → “Leverage dominant”
👉 The move is mostly driven by leverage:

overbought futures,

options speculation,

weak spot volume.
→ The trend is fragile — it can collapse quickly if leveraged positions unwind (deleverage, inverse short squeeze, etc.).

Zone between −20 and +20 → Neutral / mixed
→ The market is balanced — neither purely “air” nor purely “cash.”

Penafian

Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.