Last week’s sell-off strongly indicates that a big rebound is coming this week. After that, there are some things pointing to a potential intermediate-term top in the market.
We executed our second trade for the $5k to $1M portfolio challenge.
Trade Alert: Trade executed in Samwise $5k-$1M Challenge (Targaryen) Read Post »
We executed our first trade for the $5k to $1M portfolio challenge.
Trade Alert: Trade executed in Samwise $5k-$1M Challenge (Targaryen) Read Post »
January QQQ $500 calls at $15 on watch; hedge to come later I wanted to give a heads up in
SPY & QQQ have pushed oversold setting up a potential long trade heading into next week. The balance of evidence overwhelmingly points to a huge rebound next week.
SPY & QQQ push Oversold on the Hourly setting up a strong rebound Read Post »
Broad market has spent all week consolidating after last week’s explosive rally. The near-term action largely points to another leg coming next week.
Market Consolidation on its fourth day as volatility drops to its 5-month low Read Post »
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.