The ‘Natives’ Have Disappeared

Just like the kid frantically waving their hand in class (and never called on), Nivida price action may be doing the same.

As proposed in previous updates, we’re looking for signs that NVDA and the SOXX, are in ‘distribution’.

Is it ready, if not already, beginning a long and sustained decline (not advice, not a recommendation).

Going to a Fibonacci 8-Day chart, we have the following.

Nvidia NVDA, 8-Day

Price action has hit resistance in the 125 – 130, area.

The scary part is in the Force Index (middle panel).

The prior two price action thrusts had numerous (positive) ‘8-Day’ Force Index segments after that initial thrust.

That is, until this last move up.

After the first 8-Day Force Index segment, there are no more … it’s gone!

Stay Tuned

Charts by StockCharts

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