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SPY/QQQ Pull-back off of yesterday’s overbought conditions further indicating that we are very much in a consolidation. Confirming clearly that there is no scenario 3.

The NASDAQ-100 (QQQ) and S&P 500 (SPY) have both reached overbought territory as they test major lines of resistance. The market as a whole is likely to see a near-term top sometime in the next few days.

SPY nearing critical breakout point in the first stage of what could be a resolution of the consolidation period.

As expected, the QQQ has rebounded off of oversold conditions as consolidation continues. The market is setting up for a big move by the end of January.

Scenario 2 is now squarely in play, but with some updates.

Samwise Quick Reference Handbook To streamline our daily blogs and conserve space, we’ve organized key resources into a convenient, collapsible

As of 5 AM EST, the futures are pointing toward a mildly red open which is precisely what we’d expect to see after the indices reached overbought territory last week. We’ll see if it sticks by the open.

Samwise Quick Reference Handbook To streamline our daily blogs and conserve space, we’ve organized key resources into a convenient, collapsible

Samwise Quick Reference Handbook To streamline our daily blogs and conserve space, we’ve organized key resources into a convenient, collapsible

Samwise Quick Reference Handbook To streamline our daily blogs and conserve space, we’ve organized key resources into a convenient, collapsible