Nasdaq 100 Overbought? Here’s What History Says About The Current Rally

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Watch the free-preview video below extracted from the WLGC session before the market opens on 25 Jun 2024 to find out the following:

  • What it means for the Nasdaq 100 to be in an extremely overbought condition and how to identify these levels.
  • How the current Nasdaq 100 rally compare to previous rallies in terms of momentum, volume, and duration?
  • Key indicators that signal potential pullbacks or reversals in the market, and what traders should look out for.
  • What historical patterns can traders look for to anticipate the next move in the Nasdaq 100.
  • And a lot more...

Video Length: 00:05:57


Market Environment

The bullish vs. bearish setup is 266 to 137 from the screenshot of my stock screener below.

Wyckoff method stock screener
Wyckoff method stock screener

Heavy profit-taking was spotted on 20 Jun 2024 in Nasdaq 100, especially the semiconductor industry group SMH as posted last week in this Substack Note.

Despite the pullback in Nasdaq 100 QQQ and the S&P 500 SPY, the number of the bullish setups increases.

This is further confirmed by the short-term market breadth, indicating potential rotation from the technology heavyweights into Dow Jones DIA and Russell 2000 IWM.
 

3 Stocks Ready To Soar

10 “low-hanging fruits” TGTX HIG trade entries setups + 14 actionable setups MMYT were discussed during the live session before the market open (BMO).

(Click on image to enlarge)

TGTX stock buy signal
TGTX

(Click on image to enlarge)

HIG stock buy signal
HIG

(Click on image to enlarge)

MMYT stock buy signal
MMYT

More By This Author:

Market Breadth Divergence: Bullish Or Bearish?
Is The S&P 500 Ready For A Breakout?
Is This Bullish Reversal Signal The Key To Huge Gains Ahead?

Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.

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