No extreme $VIX. No extreme $NYMO. We don’t have capitulation conditions, but we still have all of the reasons for why the market is in the bottom zone as outlined going into the week. That’s all still very much in play.
Correction day 32: No Capitulation But bottoming Conditions Clearly Forming Read Post »
Another big intraday reversal piles on further evidence that the correction is nearing its end.
Correction Day 31: Oversold Rebound looking Strong; Double-Bottom Increasingly likely Read Post »
Market continues to rally off of deeply oversold territory. Strong evidence points toward this oversold rally going further than previous ones seen in early March.
Correction Day 30: Still on Track to Bottom this Week Read Post »
As we noted on Friday, several pieces of evidence point to this week being the end of the correction. We reiterate those conditions premarket and why the market is likely to rally off the open.
Correction Day 29: Potential Capitulation; very Likely Rally Intraday today Read Post »
We’re now starting to get the very FRIST signs of a full correction bottom in the market. Not just a rebound, but signs of a full bottom and we can see that happen as early as next week.
Correction Day 28: Strong Evidence the FULL Correction ends Next week Read Post »
The entire market filled Monday’s gap and is now trying to claw its way back toward the highs of the week. We should see higher highs within the next 5-sessions.
Rally Day 11: Monday Gap Filled & 2nd Leg Up Underway Read Post »
Market pulling back a bit off of overbought conditions. Should see a second leg up after the pull-back ends. Nvidia is actually already nearing oversold conditions and is setting up for a big trade.
Rally Day 10: Market Pulling back off of Overbought Conditions Read Post »
Stocks are finally reaching overbought territory as the rebound off of the lows extends to 9-sessions now. It’s yet unclear whether we’ll see a second leg lower, though evidence strongly points in that direction.
Rally Day 9: Markets are Mildly Overbought But Still Have a Ways To go Read Post »
Runaway gap may be underway on the QQQ as the Dow, NASDAQ and S&P all open way above their respective lines of resistance. We need follow through and volume today.
Correction Day 24: NASDAQ-100 (QQQ) Gaps Up Well Above $485 Resistance Level Read Post »
With the QQQ pulling back toward the low $470’s yet again on a third major retest of the lows, it continues the process of consolidation. We see this at the bottom/lows of roughly 30-40% of past corrections. Will discuss today.