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As we mentioned over the weekend, the NASDAQ-100 and Nvidia were both extremely oversold and due to pause ahead of another leg up. We’re now in day 2 of that pause. Nvidia seeing some upside thanks in part to Citi upgraded price-target.

After last week’s explosive rally, the NASDAQ-100 and the mega-caps experience a pullback off of extremely overbought conditions as we indicated on Friday. But there are some surprises to start the sessions.

Things are looking great from a forecasting and profit point of view. With the QQQ deeply overbought on the hourly RSI, we should see considerable upside ahead. Nvidia should break above our $150 price-target by next week.

Outlining some basic covered call writing and put buy we plan to executing as a hedging strategy for the Samwise Portfolios.

The market continues to surge higher on the back of election euphoria as both Nvidia and the QQQ continue to make fresh all time highs.

NASDAQ-100 (QQQ) pushes up to the gap-line at $492.50. Nvidia (NVDA) in the process of retesting its highs. With correction risk sky high, we’re purchasing hedge for Lannister Portfolio TODAY!

As the market rebounds off of extremely oversold conditions set by Thursday’s shellacking, the intermediate-term direction remains uncertain as the election draws near.

While the market is rebounding today off of extremely oversold conditions, nothing about the move signals that we’re out of the wood. There’s probably more downside ahead.

Broad market selling off on Microsoft (MSFT) earnings outlook but now virtually everything is oversold. The QQQ, SPY, NVDA, AAPL, MSFT and others are all oversold near-term. We discuss how to capitalize on it.