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With Apple’s new AI powered iPhone 16 set to be launched today, and with the markets having reached deeply oversold conditions on Friday, we’re due for a big bounce. But how long will it last and are we getting any closer to a final bottom in the markets?

Market is now the grips of a full-blown double-correction. AVGO reported sound earnings and the employment came in as expected. But when the market enters a corrections, nothing will stop the bleeding until the market is oversold.

Nvidia (NVDA) reached a rare buy point at $104 a share today. While we may see a retest, the price is now attractive enough to buy at least at least an initial entry. We bought a little more than half of our targeted allocation.

NASDAQ-100 getting dangerously close to transitioning into a double-correction. NVIDA hits a second instance of oversold conditions and nearing a buying opportunity. S&P 500 rejected off of its all-time highs.

S&P 500 at breakout point, NASDAQ-100 still a bit murky, Nvida (NVDA) closing in on a near-term bottom and Apple ready to launch its Ai charged iPhone in a week.

The NASDAQ-100 (QQQ) rally is on Day-7 which is on the high end of the range. If we don’t see the market resume its rally soon, this near-term pullback could metastasize.

While we expect the SPY, NASDAQ-100 and Dow to move higher in the coming weeks and months ahead, there are significant risks to our outlook that must be analyzed and reviewed.