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Both seasonality and the current segment point toward a top coming toward the end of July. Nothing we’re seeing right now says otherwise.
Rally Day 65: Correction on Track for end of July (Day 80) Read Post »
More signals emerge pointing toward a near-term peak in the QQQ. We should soon see a small near-term pull-back of 3-4% on the QQQ. Nvidia has now rallied 90% and is at the very end of its run. Care should be taken with Nvidia north of $160.
We have some important analysis outlining why the market is nearing a critical topping point. We’re starting to develop a very high level of confidence that a correction will occur within the next few weeks at most.
Rally Day 63: Segmented Rally Theory Points to an Intermediate-Term Top within 1-3-weeks Read Post »
Market pulling back very slightly after reaching overbought conditions at the end of last week. We also discuss why a correction is likely to occur within the next 1-4 weeks.
Market pressing well into new all-time highs now as it gets close to our high target for the rally.
Rally Day 61: QQQ at 3% Above Previous All-Time highs Read Post »
Market going through a typical near-term topping process. Nvidia following suit. End of July marks 80th session of the rally and the most likely point for a top.
Rally Day 60: Near-Term Topping Process Unfolding with retest of the Highs Read Post »
QQQ & Nvidia are pulling back as expected. We’re targeting $148-$150 as an exit point for our Nvidia puts we purchased near the $158 level.
Rally Day 59: QQQ/NVDA Pulling-back off of Overbought Conditions Precisely on Time Read Post »
The QQQ is most likely to peak near the end of July as returns should be slow developing from here on out. Chances are the QQQ peaks near $560 a share at its highs.
Rally Day 58: QQQ Rally Likely in it Final Stages as Correction to Happen in Late July Read Post »
The NASDAQ-100 (QQQ) rally has extended to 36.82% which is higher than every other rally going back to 2010. Only Covid was larger. This was all telegraphed back in April at the lows.