CPI in-line with expectations. Market consolidation looks bullish across the board. The trading action at the moment favors a breakout in the SPY, QQQ and Nvidia.
As we mentioned over the weekend, the NASDAQ-100 and Nvidia were both extremely oversold and due to pause ahead of another leg up. We’re now in day 2 of that pause. Nvidia seeing some upside thanks in part to Citi upgraded price-target.
After last week’s explosive rally, the NASDAQ-100 and the mega-caps experience a pullback off of extremely overbought conditions as we indicated on Friday. But there are some surprises to start the sessions.
Things are looking great from a forecasting and profit point of view. With the QQQ deeply overbought on the hourly RSI, we should see considerable upside ahead. Nvidia should break above our $150 price-target by next week.
Outlining some basic covered call writing and put buy we plan to executing as a hedging strategy for the Samwise Portfolios.
Trade Watch: we’ll soon be selling Covered calls across all four samwise Portfolios Read Post »
The market continues to surge higher on the back of election euphoria as both Nvidia and the QQQ continue to make fresh all time highs.
With President Trump winning a decisive victory, the uncertainty of a potentially contested election is no longer at risk for the markets. Futures immediately surged and indices opened near their all-time highs.
Trade made in the Lannister Portfolio.
TRADE ALERT: Trade executed in lannister Portfolio Read Post »
NASDAQ-100 (QQQ) pushes up to the gap-line at $492.50. Nvidia (NVDA) in the process of retesting its highs. With correction risk sky high, we’re purchasing hedge for Lannister Portfolio TODAY!
As the market rebounds off of extremely oversold conditions set by Thursday’s shellacking, the intermediate-term direction remains uncertain as the election draws near.