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NASDAQ-100 & the other indices make a breakout push through a key band of resistance.

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Market holds steady as it goes into tomorrow’s CPI report. Nvidia showing some signs of a near-term top. Tesla nears oversold conditions. Apple makes a strong push on its Ai partnership with BABA.

Nvidia breaks out above $130 and makes its push to $135 resistance. As overbought conditions are still relatively low, we now expect Nvidia to run to as high as $137-$138 before reaching extremely overbought. At the point, it will pull-back aggressively.

Both the NASDAQ-100 (QQQ) and Nvidia (NVDA) reached their key points of resistance at $530 and $130 respectively as we forecasted earlier in the week. They both have likely now peaked near-term.

The NASDAQ-100 (QQQ) is approaching its key resistance at $530 a share and will likely see another pull-back. Nvidia (NVDA) returns to a critical high point which lends further evidence to the conclusion that it bottomed at $113.

Yesterday’s low point in Nvidia (NVDA) marked the second instance of oversold conditions and today’s rebound indicates that the low is likely in. Worst case $110-$115 indicates the floor (range) on the stock.

With markets set to open significantly lower to start the week, a lot of trading opportunity are likely to emerge during the first few days of the trading week.