Rally Day 84: A Look at Peak to Correction Timeline
While we wait for the retest to play out, today we examine how delay after the market peaks might impact the correction timeline.
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Rally Day 83: Market Fights to Hold Onto Gains as Retest Continues
After pulling back 4% in just two sessions, the QQQ staged a very strong rally yesterday to start the week. The big question right now is whether the market is on a retest of the highs or preparing for leg 2 of the segment pull-back.
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Oversold Bounce: Either a retest of the Highs, or A Rebound Ahead of 2nd Leg Down in The Segment
Big rebound on EU Tariff postpone news. The market has one of four roads ahead all leading to the same place. It’s just how we get there. We discuss the different ways things are likely to play out and why a correction by the end of the month is inevitable.
Major Reversal at Day 80 Marks Potential Start of Correction
The market is undergoing a segmented rally pull-back. That much is clear. What isn’t obvious just yet is whether it will retest the highs or head straight into a full blown correction.
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Rally Day 80: Reversal Potentially Underway at Day 80 as MSFT/mETA Premarket Optimism Fades
As the QQQ rally reaches Day 80 — the danger zone — strong earnings out of MSFT and META has brought some momentum back into the market. But will it last very long? The rally is still approaching maturity at the Day 80-100 zone.
Rally Day 79: In the Home Stretch as Rally is Now 4/5ths of the Way through at Maximum Duration; Second Round of Trades Soon
The QQQ is one day shy of reaching the 80-day market for the rally. We’re also approaching earnings seasons and the final day of July. High probability for a market peak in early August.
Rally Day 78: SPY Showing Signs of an Imminent Intermediate-term Top & Aug Correction as Forecasted
SPY chart shows late stage DEEPLY overbought conditions confirming what we’ve always suspected. The QQQ is in late stage overbought and likely going to peak fairly soon. We’re nearing the end of the run.
Rally Day 77: Current Rally Segment Duration is a new Bull Market Record at 25-Days Despite smaller returns
The QQQ rally segment that began in mid-June at $523.65 a share has now extended to 25-sessions. That is the longest single segment without a 2.4% pull-back going back to the lows of 2022.
Rally Day 76: QQQ on Longest Near-Term Rally Without a 2% Pull-Back
Segment reaches 24-sessions on Friday, as percentage returns for the entire month of July barely exceeds 2%. We continue to wait patiently for the market to reach an intermediate-term peak.
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Rally Day 75: Segment Reaches Day 23 which is One Day Shy of Modern Record
The current QQQ segmented rally has officially extended to 23-days now. That’s 1 day shy of the record. Gains are in-line with other segments. Overall, very close to a peak based on historical trends.
Rally Day 75: Segment Reaches Day 23 which is One Day Shy of Modern Record Read Post »