Waiting to see how the market handles its retest phase of the sell-off before adding to our positions. Today marks another transition session.
NASDAQ-100 May Retest Lows Ahead of Larger Rally Next week Read Post »
While the market is pulling back a bit as expected, we’re now starting to get a sense of where things are likely to bottom and the market is already setting up for another sharp rebound.
Yesterday’s sell-off pushed all of tech into deeply oversold territory. We should see a major rebound begin as early as today. This morning likely marked near-term lows ahead of a strong bounce toward yesterday’s gap-line (highs).
Market Gearing up For a Snap Back Rally soon Read Post »
Big market gap-down to open up some good trading opportunities near-term. For our long-term portfolio we need to see correction territory to get excited.
Futures Pointing to Huge Gap-Down in the Market to Start Fed Week Read Post »
Markets continuing their pull-back off of overbought conditions. There are some gaps to fill and a fair degree of risk that the selling continues toward those gap lines.
There’s a possibility that we may be nearing the end of a segment. More likely, however, is the markets have merely reached overbought territory and are now pulling back slightly ahead of a second leg higher. Time-wise, we’re only 8-days into the first segment which should go for 12ish sessions.
First Segment: The SPY/QQQ Pulling Back ahead of another leg up Read Post »
We got a lot going on today. The QQQ has made new highs above the previous peak at $527. The SPY is now at fresh ALL-TIME highs. Nvidia pushes overbought on the hourly and might soon see another large pull-back.
NASDAQ-100 (QQQ) Makes Higher High indicating We’ve Started a New Rally Read Post »
The big feature today is Apple’s stock which has reached oversold conditions on the daily chart thanks to analyst comments. Why the stock is both a trading and investment opportunity.
Apple reaches oversold on daily Chart & Down 15% from Highs Read Post »
Another big gap today indicates the market is likely to pull back to fill both gaps. We have two large back-to-back gaps now without strong intraday follow through. Chances are they get filled within the next week or so.
Two Massive Gaps in the Market likely to be Filled in the Coming Weeks Read Post »
While near-term the action is starting to indicate another leg lower may be on the horizon, chances are whatever leg down we have ahead of us will be the last bit of selling before a major multi-month rally begin.
NASDAQ-100 Rebound Topping Out; Bulls Need A Quick Surge Past $520 To Keep It Going Read Post »