Sam Weiss

The NASDAQ-100 (QQQ) continues to go though its bottoming process as it both fills a major gap today and forms positive divergence. Still riding along he oversold line, the QQQ will soon rebound back up through the $520’s.

The entire market is rebounding off of deeply oversold conditions as Nvidia gets ready to report earnings.

Markets are deeply oversold and likely to rally soon. We could see a rally start as early as today within a reversal.

The focus of today’s session will undoubtedly be on the wide number of different trade set-ups that have emerged with the NASDAQ-100 (QQQ) having pulled back sharply off of its highs.

As we’ve largely moved to cash + Nvidia (NVDA) in our trading portfolio (still super duper long in our LT Portfolios) we’re now just waiting for our set-ups to fully develop before we put on our next trades.

The NASDAQ-100 (QQQ) pulls back from its highs after reaching overbought territory. But the damage is already done. A new intermediate-term rally is now inevitable.

Stocks stall at overbought conditions. But signs point toward an intermediate-term breakout is right around the corner.

The NASDAQ-100 (QQQ) has reached its key breakout point at $540 a share as the SPY closes in at $610. If the markets are able to push through support, we could see the start of a new massive 20% rally.

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