Daily Posts & Analysis

The NASDAQ-100 is now down 2.8% from its highs and getting close to a buy target.

The waiting continues as the market trades sideways. Today marks session 16 of the rally that began on September 6. We should see a bigger pull-back begin sometime this week.

With yesterday big gap-up seeing a strong reversal day and with today’s session already looking on the weaker side, our near-term outlook remains in tact. Near-term peak followed by a 4% pull-back. We’ll likely see a sell-off sometime next week. The selling should last no more than 3-5 days total.

Just as the rally stalled out with five consecutive trading days of intraday inaction, Micron earnings reignites the bulls, The NASDAQ-100 is now set on a path to test its highs.

Some signs on the S&P 500 (SPY) point to a potential risk that we could see another sharp leg lower before the bull market continues. The corrective period may still have another leg to go.

NASDAQ-100 trying to regain some momentum. Nvidia up big on news that Jenson Huang is done selling.

With all the major recent catalysts now behind us, the market is quietly consolidating ahead of the next big move.