The markets remain a full 5% off of their lows set early Monday morning. The $VIX still trades north of 50 and remains deeply overbought. The NASDAQ-100 Daily & Weekly charts are oversold.
Rally Day 2: Trading Ranges Contract with $VIX Still Sky High & Market Deeply Oversold Read Post »
Capitulation Monday is following the typical playbook. The QQQ has already rallied 10% off of its lows and we’re likely to see substantial more upside ahead.
All of the signs point toward the market setting a bottom in this very trading day. In fact, there’s a strong probability the market will bottom during the first few hours of trade today.
Correction Day 34: capitulation Monday in full Effect with Likely Bottom Today Read Post »
$VIX is up to the 40’s today as Market fear has fully taken hold. Market is now in the process of capitulation. Expect a bottom on Monday.
Correction Day 33: $VIX Soars as Signs of Capitulation Emerge; Market Bottoms on Monday Read Post »
No extreme $VIX. No extreme $NYMO. We don’t have capitulation conditions, but we still have all of the reasons for why the market is in the bottom zone as outlined going into the week. That’s all still very much in play.
Correction day 32: No Capitulation But bottoming Conditions Clearly Forming Read Post »
Another big intraday reversal piles on further evidence that the correction is nearing its end.
Correction Day 31: Oversold Rebound looking Strong; Double-Bottom Increasingly likely Read Post »
Market continues to rally off of deeply oversold territory. Strong evidence points toward this oversold rally going further than previous ones seen in early March.
Correction Day 30: Still on Track to Bottom this Week Read Post »
As we noted on Friday, several pieces of evidence point to this week being the end of the correction. We reiterate those conditions premarket and why the market is likely to rally off the open.
Correction Day 29: Potential Capitulation; very Likely Rally Intraday today Read Post »
We’re now starting to get the very FRIST signs of a full correction bottom in the market. Not just a rebound, but signs of a full bottom and we can see that happen as early as next week.
Correction Day 28: Strong Evidence the FULL Correction ends Next week Read Post »
The entire market filled Monday’s gap and is now trying to claw its way back toward the highs of the week. We should see higher highs within the next 5-sessions.
Rally Day 11: Monday Gap Filled & 2nd Leg Up Underway Read Post »