May 13, 2024

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Make Or Break Data Ahead

Please click here for a chart of Nasdaq 100 ETF (QQQ).

Note the following:

• The chart shows QQQ is in the resistance zone.
• The chart shows that the rally is on low volume, indicating a lack of conviction.
• The chart shows that RSI has jumped and is now overbought. RSI indicates that the stock market is now vulnerable to the downside if the macro data goes against the market.
• The chart shows Arora calls to raise hedges near the top and the Arora call to reduce hedges near the bottom.