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The rally has now extended to week 21. This is a significant indication for a peak as week 20-22 is the most common place for market rallies to end. This includes consolidations.

Nothing has changed from Friday or from most of last week. The market sustained a 4% pull-back, reached deeply oversold conditions and is on retest of the highs. Same as Nvidia.

As we noted yesterday, the markets were deeply oversold and set-up to retest the highs. Powell indicating interest rate cuts at Jackson Hole is an easy excuse for the market to rally. But the impact will be short lived. Sep correction is as Inevitable as the Sunrise.

The QQQ hourly chart entered into deeply oversold territory yesterday and while we did see a rebound up to $566 to alleviate the pressure, it simply wasn’t enough. We discuss why.

The 5th segmented officially ended today which skyrockets the probability of an imminent correction. We may have already started one or will soon see one after retest. The market is oversold on hourly right now. That can lead to a rebound.

The QQQ has already pulled back 1% after reaching its highs at $583.32 a share. We explain why this has several big implications for a market top.

The QQQ stalls out at $580 as it reaches a critical inflection point. There’s a good 90% probability the QQQ peaks between $580 and $600 a share. If it manages to reach $600, history suggests it tops within 1-3 days.

The NASDAQ-100 (QQQ) is now on its 5th segment with the rally extending to nearly 6% which is right in line with the size of a late stage segment. The market is within a few percentage points of a HARD top ahead of a 10% correction.