Tech Rally Propelled By Short Squeeze – For Now, Relief Awaits Bruised Shorts

posted in: Equities, Technicals | 0

Since March lows, large-caps led, and tech led the large-caps.  Short squeeze helped.  Amidst signs of distribution in the Nasdaq 100 the past several sessions, relief likely awaits bruised shorts near term. Shorts have gotten squeezed – for the most … Continued

SMH Sits At Crucial Juncture – INTC Results With Nearly 11% Weight Can Decide Fate

posted in: Equities, Technicals | 0

Intel (INTC) reports later today.  This is coming at a crucial time as far as where SMH (VanEck Vectors Semiconductor ETF) is situated. Texas Instruments’ (TXN) results were received favorably Wednesday, with the stock up 4.8 percent.  It accounts for … Continued

Amid Divergences, QQQ Bulls Last Week Defend 11-Month Support, But Denied At S/T Resistance

There is no shortage of divergences – be it in macro or other assets, including equities.  Major equity indices peaked early this month but put foot down early last week.  Medium term, building on it further can prove difficult.  Overbought … Continued

Nasdaq 100 Last Week Retreats From Crucial Level – Action This Week Could Be Telling

The Nasdaq 100 index/QQQ could be potentially forming the right side of a bearish head-and-shoulders pattern.  This week’s action could provide further clues. The US economy is one month short of completing nine years of expansion.  The recovery has been … Continued

Nasdaq 100 Getting Oversold – Turning XLK Credit Call Spread Into Iron Condor

posted in: Derivatives, Equities, Technicals | 0

Risks are building medium- to long-term, but the Nasdaq 100 is getting oversold on the daily chart. After major U.S. equity indices reversed on February 9, tech-heavy indices were the only ones to rally to new highs. The Nasdaq 100 … Continued

Credit Call Spread To Take Advantage Of Potential Downward Pressure On QQQ N/T

posted in: Derivatives, Equities, Technicals | 0

Unless momentum changes swiftly, the tech-dominated Nasdaq 100 index once again is beginning to lag, creating opportunities for nimble traders. The Nasdaq 100 has come a long way.  It is up nearly 29 percent this year – much more than … Continued