The SPY & QQQ having been rallying non-stop for 19-sessions without a pull-back. The record during this bull market is 24-sessions. This is evidence that we should see a peak this week.
The QQQ segment rally is now in-line with the typical range at a peak. At 7.85%, it falls within that 8-10% range indicating a pull-back is likely to start next week.
Rally Day 71: Segment on QQQ Extends to 7.85% Hinting at a Peak Next Week Read Post »
We review some of the main arguments in support of the conclusion that the market is likely to experience a correction between end of July and August, and our strategy as a result.
Rally Day 70: Strategy in the Home Stretch (10-Days until Topping-Zone) Read Post »
Market rally has been marred by indecision candlesticks. The segmented rally looks to be drawing to an end and the end of July is still on schedule for a likely peak in the rally. Nothing has changed.
News that Nvidia will soon resume sales of its H20 AI GPU to China has pushed the stock to our $170 price target, and the QQQ segment has extended to $560 a share.
The market is forming a near-term bullish consolidation pointing toward a small near-term breakout this week. Yet, the end result will be a top in the market by July’s end.
Rally Day 68: Market Consolidation Continues as the Rally Bleeds off Time Read Post »
Samwise Quick Reference Handbook To streamline our daily blogs and conserve space, we’ve organized key resources into a convenient, collapsible
Both seasonality and the current segment point toward a top coming toward the end of July. Nothing we’re seeing right now says otherwise.
Rally Day 65: Correction on Track for end of July (Day 80) Read Post »
More signals emerge pointing toward a near-term peak in the QQQ. We should soon see a small near-term pull-back of 3-4% on the QQQ. Nvidia has now rallied 90% and is at the very end of its run. Care should be taken with Nvidia north of $160.
We have some important analysis outlining why the market is nearing a critical topping point. We’re starting to develop a very high level of confidence that a correction will occur within the next few weeks at most.
Rally Day 63: Segmented Rally Theory Points to an Intermediate-Term Top within 1-3-weeks Read Post »