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The QQQ is doing what it has always done on century breakout. We’ve seen all of this before. Move up to $630 was easily predictable after the break of $613. We’re there now. We discuss how we plan to trade it.

The QQQ has entered uncharted territory as it has largely violated all prior trends going back to the 1990’s. Near-term analysis suggests a top at $632-$633 this week with a small 4-5% pull-back down to $600-$605.

The market rally has extended to 140-days which is the melt-up marker. That is almost 24-days beyond the previous record set by covid. We discuss the implications.

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

We’re now about 5 days into the high vol topping period with both the QQQ & SPY appearing to form head & shoulders tops. Regardless of how it plays out, one thing that is clear is that we’re at a top. What will follow from this is the market rolling over.

Day 4 of high volatility markets continues. With $590 lows yesterday to $607 highs today, there’s an indication the market is going to run trough a complex topping process rather than a hard top. But a hard top is still possible as seen in July 2024’s 4-days of volatility.

With the QQQ first dropping 3.5% on Friday, rebounding 2% on Monday and then falling nearly 2% at the lows on Tuesday is a clear-cut indication that we’re in a high volatility topping process.