Market pulling back very slightly after reaching overbought conditions at the end of last week. We also discuss why a correction is likely to occur within the next 1-4 weeks.
Market pressing well into new all-time highs now as it gets close to our high target for the rally.
Rally Day 61: QQQ at 3% Above Previous All-Time highs Read Post »
Market going through a typical near-term topping process. Nvidia following suit. End of July marks 80th session of the rally and the most likely point for a top.
Rally Day 60: Near-Term Topping Process Unfolding with retest of the Highs Read Post »
QQQ & Nvidia are pulling back as expected. We’re targeting $148-$150 as an exit point for our Nvidia puts we purchased near the $158 level.
Rally Day 59: QQQ/NVDA Pulling-back off of Overbought Conditions Precisely on Time Read Post »
The QQQ is most likely to peak near the end of July as returns should be slow developing from here on out. Chances are the QQQ peaks near $560 a share at its highs.
Rally Day 58: QQQ Rally Likely in it Final Stages as Correction to Happen in Late July Read Post »
The NASDAQ-100 (QQQ) rally has extended to 36.82% which is higher than every other rally going back to 2010. Only Covid was larger. This was all telegraphed back in April at the lows.
Nvidia is at deeply overbought conditions and once it approaches $160, it’ll be set up for a near-term short-trade. Pull-back and then surge to all-time highs again.
Rally Day 56: Near-term Short Set-ups Developing as Stocks push Deeply Overbought Read Post »
The NASDAQ-100 (QQQ) rally extends to fresh all-time highs as it crosses into overbought territory. Nvidia (NVDA) returns to its all-time highs at $153 a share. We discuss how to play it.
Rally Day 55: Volatility, Overbought & Trading Set-ups finally Returning to Markets Read Post »
QQQ returns to its all-time highs on news of an Iran-Israel ceasefire. Fresh all-time highs were inevitable ever since the QQQ pushed above $500 three-weeks back.
Rally Day 54: Return to All-time Highs for the QQQ Read Post »
The QQQ consolidation between $520 and $537 continues as the ETF forms the beginnings of a bullish flag.
Rally Day 53: Bull Flag/Consolidation Continuing Over Past 10-sessions Now Read Post »