Brand-based selling going on across the NYSE as breadth weakens in the stock market going into the fed. You’d never know this looking at the SPY/QQQ.
$NYMO oversold despite QQQ/SPY holding up ahead of the Fed Read Post »
While the Dow & Nvidia are showing signs of a bottom, the NASDAQ-100 is doing the exact opposite. The risk remains high to put on near-term trades until the QQQ pulls back.
QQQ extends it rally to 8.8% which is now in-line with the typical range of 8-10% for these types of rallies. But the Dow & Nvidia continue to decouple.
QQQ & Dow Continue to diverge as QQQ Rally extends to 8.8% Read Post »
Dec 15, 2024 weekly round-up updates our short & intermediate-term expectations for the NASDAQ-100 & Nvidia.
Weekly Roundup: A Near-Term Pullback Coming in the Next 1-10 Trading Days Read Post »
Today’s reversal on the QQQ further adds to the weight of evidence that a pull-back of 3-4% is imminent for tech stocks.
market risk & probability for a Near-Term sell-off next week reaches a high point Read Post »
NASDAQ-100 (QQQ) trading action highly supports our Current Outlook which calls for the QQQ to sustain a 3-4% pull-back after reaching a $530 peak. Nvidia (NVDA) in danger of briefly losing the $130 level on the next pull-back.
NASDAQ-100 (QQQ) continues its course Toward a 3-4% pull-back in the Coming Days Read Post »
NASDAQ-100 (QQQ) rallies extends to 7.11% which is far more in-line with the typical range for a segmented rally. Today we discuss the main reasons for why the QQQ is likely to peak right around these levels with a few risk factors worth mentioning.
NASDAQ-100 & large cap tech stocks are all pointing toward a short-term pull-back on the horizon. But the S&P 500 and Dow say differently. The indices could diverge in the net few weeks.
NASDAQ-100 (QQQ) has fallen under a 70-RSI and is now set-up for an imminent near-term sell-off. Nvidia (NVDA) nearing oversold conditions and may soon set-up for a long trade. It will depend on how quickly the QQQ catches up.
Short-term pull-back imminent on the NASDAQ-100 (QQQ) Read Post »
NASDAQ-100 (QQQ) is doing precisely what we’d expect it to do upon reaching an 85-RSI on the hourly. Nvidia is one step closer to fulfilling that head & shoulders top set-up we mentioned a few days ago.