NASDAQ-100 (QQQ) is likely to pull-back to the low $470’s as scenario 1 of our long-term outlook unfolds. There’s an increasingly high likelihood the market goes to fresh all-time highs by late summer.
Rally Day 20: Moderate Pull-Back coming Ahead of New highs in the rally Read Post »
The NASDAQ-100 is closing in on our $493 price target on the $467 breakout run. $493 represents a 100% retracement of leg 2 in the correction. It’s a major level of resistance.
NASDAQ-100 (QQQ) Closing in on Our Intermediate-Term Price Target & Major Resistance Read Post »
Earnings has helped propel the QQQ beyond the 20% mark for the rally and it trades a mere $9 below its key resistance and our price-target for the rally.
NASDAQ-100 (QQQ) Rally Extends to 20% Off its Lows on Strong Earning Read Post »
As we noted in yesterday’s Daily Briefing, the market was overbought, formed negative divergence and was due for a sharp pull-back. Today’s action was totally anticipated and outlined ahead of time.
Market Pulling Back off Overbought Conditions Fully in-Line with Expectations Read Post »
While there’s near-term risk for a sharp pullback taking shape, there are repetitive aspects to the market that suggests significant more upside in the intermediate-term.
Risk of Rally Peaking Increases on Retest + Earnings calendar Read Post »
Market taking a breather after a strong week of trade. Long-Term outlook remains the same.
Market Consolidating a Bit After a Big Move Last Week Read Post »
NASDAQ-100 has pushed above key psychological resistance at $470 and is now looking to confirm its breakout. A few more point of upside and we may have that. Same with the SPY and $548.00.
The NASDAQ-100 (QQQ) is approaching its critical breakout point at $467 a share. This could pave the way for a run up to $493 as we outlined this week. The SPY is making a corresponding run at its $548 resistance level.
NASDAQ-100 (QQQ) Making a Hard Push to Take Out Significant $465 Resistance Zone Read Post »
With today’s big move to the upside on the administration’s softening stance on China, we’re starting to get a lot of clarity in the long-term direction of the market.
QQQ gaps-up Above Key Trend-Line & reaches Near Overbought Conditions Read Post »
As we noted yesterday, the third leg down was on the weaker side and the rebound we’re now seeing sort of illustrates that quite clearly.
Market Rebounds off Oversold Conditions as a Key Trend-line Emerges Read Post »