Nasdaq 100 Index
The recently highlighted 60-min divergences (first chart below from Aug 18th) have been confirmed with QQQ bouncing today (2nd chart). Hard to say how far they will play out but with the outlook for the more significant daily time frame bearish, my expectation is that this bounce will likely be capped by any of the [...]
QQQ & SPY both have potential (unconfirmed) positive divergence on the 60-minute charts. Should the divergences become confirmed via a bullish crossover on the PPO before it makes a lower low, that would increase the odds of a rally. Should QQQ make another thrust down to the 140.05 or 139.27 support levels shown on this [...]
The near & intermediate-term outlook for the stock market via QQQ (Nasdaq 100 ETF), SPY (S&P 500 ETF), IWM (Russell 2000 Small Cap ETF) & MDY (Midcap 400 ETF) as well as analysis on the $VIX volatility index. Click the setting icon at the bottom right of the chart if you wish to increase the [...]
A quick update on SPY & QQQ. After one of the largest 3-day declines so far this year, on both Thursday & Friday SPY found support on the minor uptrend line that was most recently highlighted in Thursday's video while QQQ fell to right where the previous 60-min chart scenario had projected from the last [...]
An overview of some of the recent significant technical developments in the major stock indices as well as a few sectors & individual stocks that stand out as attractive trading opportunities at this time. Also discussed are the pitfalls of becoming complacent after a period of unusually low volatility & benefits of being prepared at [...]
Both the small caps (IWM) have already broken below their primary uptrend lines off the early 2016 lows along with the mid caps (MDY). While both closed at support yesterday, IWM appears to be headed down to at least the 133.50 area with MDY poised to fall to at least the 305.35 area once the [...]
Most traders & investors are aware that the technology sector has by far & wide led the US stock market to the recent highs and that within the tech sector, the semiconductors have lead the way. The semiconductor sector also tends to act as the canary in the coal mine for the health of the [...]