QQQ has formed a short-term bullish consolidation and is gearing up for a short-term breakout run. But the QQQ is set-up to top out somewhere in the $580-$600 range and likely over the next 10-days.
The QQQ has already pulled back 1% after reaching its highs at $583.32 a share. We explain why this has several big implications for a market top.
Rally Day 91: We have Even More Evidence that We’re Now at a Top in the Market Read Post »
The QQQ stalls out at $580 as it reaches a critical inflection point. There’s a good 90% probability the QQQ peaks between $580 and $600 a share. If it manages to reach $600, history suggests it tops within 1-3 days.
Rally Day 90: QQQ battling $580-Zone Read Post »
The NASDAQ-100 (QQQ) is now on its 5th segment with the rally extending to nearly 6% which is right in line with the size of a late stage segment. The market is within a few percentage points of a HARD top ahead of a 10% correction.
Rally Day 89: 5th Segment Fully Developed; Market Top within 2-3% of Today’s Highs Read Post »
The SPY finally made a slightly new high of only $0.03 indicating that the market is still in its retest phase.
Rally Day 88: Market Still in retest Zone as SPY Finally Makes Incremental New High Read Post »
As the rally approaches record territory, we’re looking to put on a small short trade on the QQQ (5-10%) in anticipation of the next correction.
Rally Day 87: Market Still on Retest As Rally Reaches its Full Maturity Read Post »
The market rally has now officially reached Day 86 which is only a handful of days shy of beating out some of the longest rallies of the past 15-years. We are getting very long in the tooth now.
As the market rebounds aggressively back toward its highs from last week, there’s the possibility that we may be entering a rare 5th segment. At 85 days, the rally is reaching near record duration.
Rally Day 85: Retest or 5th Segment? Read Post »
While we wait for the retest to play out, today we examine how delay after the market peaks might impact the correction timeline.
Rally Day 84: A Look at Peak to Correction Timeline Read Post »
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.
Rally Day 83: Market Fights to Hold Onto Gains as Retest Continues Read Post »