Setting The (Reversal) Hook

Nvidia just posted an Up-Thrust, reversal on the daily.

The rest of the SOXX, whistles past the graveyard.

If one looks only at the SOXX, everything seems to be ok; it’s recovering (sort-of).

However, leader NVDA, may be at The Danger Point®, ready to head lower (not advice, not a recommendation).

Nvidia NVDA, Daily

We’ve just had an a-b-c correction from the June 24th lows.

That correction posted a Wyckoff Up-Thrust with yesterday’s penetration of resistance (blue line) and today’s reversal.

Note: Both upward moves (wave ‘a’, wave ‘c’) are of equal length but are divergent in thrust energy.

We’re at the point where anything can happen.

However, this is the place where risk for being wrong on a short position, is least (not advice, not a recommendation).

Stay Tuned

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The Danger Point®, trade mark: No. 6,505,279