NASDAQ-100 & large cap tech stocks are all pointing toward a short-term pull-back on the horizon. But the S&P 500 and Dow say differently. The indices could diverge in the net few weeks.
NASDAQ-100 (QQQ) has fallen under a 70-RSI and is now set-up for an imminent near-term sell-off. Nvidia (NVDA) nearing oversold conditions and may soon set-up for a long trade. It will depend on how quickly the QQQ catches up.
Short-term pull-back imminent on the NASDAQ-100 (QQQ) Read Post »
NASDAQ-100 (QQQ) is doing precisely what we’d expect it to do upon reaching an 85-RSI on the hourly. Nvidia is one step closer to fulfilling that head & shoulders top set-up we mentioned a few days ago.
As the NASDAQ-100 (QQQ) continues what could be its final leg higher ahead of the next normal 10-14% correction, we discuss the relevant factors on when that correction is likely to occur.
A close look at when the market might begin its next correction & why Read Post »
NASDAQ has now definitively shifted away from choppy trade to the typical high momentum trading action we generally see in segmented rallies. It increases visibility.
major momentum surge last two days Makes the short & intermediate-term more predictable Read Post »
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Trade Executed: Arryn Portfolio Read Post »
With S&P, Dow and NASDAQ all push into overbought territory on the hourly, all three are likely to see a sharp pull-back soon.
market headed for a near-term pull-back off of overbought conditions Read Post »
Updated the current outlook to reflect our short, intermediate and long-term forecast on the market. As we noted on Friday, we expect the market to pull back near-term. Intermediate-term, we’re not far from seeing a correction. It’ll likely happen by mid-January.
SPY pushes slightly overbought as breaks through $600. QQQ returning back toward its highs for the week and NVDA rebounding off of oversold conditions. But none of the moves are big enough at the moment to indicate continuation of forward momentum.
Daily Briefing: QQQ rebounds to week’s highs but still in a short-term negative set-up Read Post »
NASDAQ-100 (QQQ) rolling over back down toward $500 could set-up another short-term trade in Targaryen. Nvidia (NVDA) also getting very close to a buying opportunity for the near-term.