The market has spent ALL week consolidating as the QQQ is within a few dimes of its closing price last Friday. There are some risks that have emerged as a result of that. We discuss in today’s Daily Briefing.
Friday Marks the end to a Very Slow Week; However some Risks Emerge Read Post »
QQQ surges to its $493 key line of resistance. A breakout opens a path right up to $500 a share. Nvidia breaks out above its $116 resistance level and reaches mildly overbought conditions.
Market Breaking out of a Bull Flag and Pushes to New Highs; Not Overbought Yet Read Post »
Fed decision has little bearing on markets today. The QQQ continues to consolidate near $480. Our wait mode continues until we get a decisive move one way or the other. We either need a full breakout above $490 to open up a new range or a breakdown to oversold conditions near $470 to set up reversal.
Fed Decision has Little Impact on Markets; Bull Flag Slowly Developing in the QQQ Read Post »
A look at the psychology behind “This time is different” and why it never works.
why “This time” is Never Different, Part 1 Read Post »
Market is in the process of continuing its pull-back as expected. Though the selling pressure feels relatively weak and might indicate that we’re in a new full blown intermediate-term rally.
Market Pulling Back as Expected; Intermediate-Term Up-Trend Looks Strong Read Post »
NASDAQ-100 (QQQ) is likely to pull-back to the low $470’s as scenario 1 of our long-term outlook unfolds. There’s an increasingly high likelihood the market goes to fresh all-time highs by late summer.
Rally Day 20: Moderate Pull-Back coming Ahead of New highs in the rally Read Post »
The NASDAQ-100 is closing in on our $493 price target on the $467 breakout run. $493 represents a 100% retracement of leg 2 in the correction. It’s a major level of resistance.
NASDAQ-100 (QQQ) Closing in on Our Intermediate-Term Price Target & Major Resistance Read Post »
Earnings has helped propel the QQQ beyond the 20% mark for the rally and it trades a mere $9 below its key resistance and our price-target for the rally.
NASDAQ-100 (QQQ) Rally Extends to 20% Off its Lows on Strong Earning Read Post »
As we noted in yesterday’s Daily Briefing, the market was overbought, formed negative divergence and was due for a sharp pull-back. Today’s action was totally anticipated and outlined ahead of time.
Market Pulling Back off Overbought Conditions Fully in-Line with Expectations Read Post »
While there’s near-term risk for a sharp pullback taking shape, there are repetitive aspects to the market that suggests significant more upside in the intermediate-term.
Risk of Rally Peaking Increases on Retest + Earnings calendar Read Post »