SPY/QQQ/DIA rebounding after 6 consecutive days of selling pressure. A rebound is to be expected. But neither the 6-days of selling was impressive nor is this rebound. So far, the market just seems to be in a funk. It doesn’t want to pull off the bandaid and just finish the correction nor does it seem eager to rally.
Market Rebounds As expected after 6-Days in a Row of Selling Read Post »
A lot of volatile swings to start the new trading year. Correction risk continues to hang over the stock market for the month of January.
Big Volatile Swings to Start the Year Read Post »
The NASDAQ-100 (QQQ), S&P 500 and Dow all continue their topping process but the slower grind is increasing the odds for a double-bottom. We need to see volatility pick up or the correction setup could be substantially delayed.
Market Topping Process Continues as We Head into Year End Read Post »
Market’s near-term direction is a little unclear, though the bias is to the downside. Intermediate-term, it is still headed for a full-blown correction in January. That outlook hasn’t changed for months.
High Volatility likely to continue this Week Read Post »
In 6 out of the last 7 trading days, we’ve had a highly volatile trading days. With the markets having largely retested their highs — except of the Dow — we could see a correction and roll at any moment. It remains to be seen if we get follow through next week.
As the Santa Rally continues, there’s a strong chance a retest of the highs is underway in both the SPY and QQQ before any sort of correction takes hold in January.
Market “Retest” Scenario in Play Read Post »
10:25 AM EST on December 24, 2024 Trade Alert: Sell to Close QQQ February 21, 2025 Calls @ $37.25 x
Trade Alert: Trade Executed in Baratheon Portfolio Read Post »
The market rebound has extended to our high expected range. But now risk has returned. Different risk factors point in different directions at this point. We discuss in the Daily Briefing.
Market Snap-Back Rally Extends to Expected Historical Range Read Post »
Based on near-term indicators, the market should see continued upside early the week. Santa rally could also contribute to the the markets higher as we go into year end. Chances are we get more selling right after that.
Market should see some upside this week following last Friday’s Rebound Read Post »
A market correction is now underway. With the indices deeply oversold and many indicators already flashing extremes, we should see a rebound of some kind ahead of another leg lower.
NASDAQ-100 (QQQ) now in a Full-Blown correction Down 5.5% Read Post »