The Bears Take Control

Just like the image at left, Nvidia looks like it’s ‘strapped in’, for the ride down (not advice, not a recommendation).

The upside doesn’t last forever and neither does the downside … unless of course, you go bankrupt. 🙂

With that, let’s see where Nvidia may be going.

Note: Recall, the potential for a top, was identified two weeks ahead of time, then confirmed.

Nvidia NVDA, Weekly

We’ll cut straight to the chase and show how price action is ‘respecting’ the Fibonacci projections (thus far).

With price action in the SOXX, confirming yesterday’s trendline ‘artistic license‘ post, at this point, it appears the downside for the sector is well underway (not advice, not a recommendation).

Stay Tuned

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