Sam Weiss

The NASDAQ-100 (QQQ) reached an 80+ RSI (extremely overbought) on the hourly right near $520 a share indicating a near-term pull-back. The segmented rally analysis further confirms that forecast.

Moody’s downgraded U.S. credit rating on Friday after the close leading to anxiety all weekend. Yet, the market rally has shown incredible resilience reversing course and nearly pushing into the green intraday. Still, a pull-back is due nonetheless.

NASDAQ-100 & Nvidia look to cap a strong week. Signs point toward a small pull-back happening next week as everything has pushed into deeply overbought territory.

Market momentum continues and all-time highs are right around the corner. While the QQQ is overbought, it doesn’t show a signs of slowing down.

The march back to all-time highs continues. As we’ve mentioned, it WILL happen a lot sooner than people might expect. Can easily see ATH by next week.

NASDAQ-100 (QQQ), Nvidia (NVDA) and others have finally pushed into deeply overbought territory signaling a near-term top is around the corner. Intermediate-term points to substantially higher prices though.

Market looks set to gap way up above major resistance as the QQQ trades near $498 in the premarket. A strong close can signal the market’s intent to return to all-time highs.

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.

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.

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.