Fibonacci Time Correlations

Scuttlebutt from the Goldman Sachs technology conference, with chief cook and bottle washer Nvidia, had at least one journalist (do we still have those?) breathless, ecstatic (paraphrasing):

‘Never has there been so much euphoria’.

These links show how Fibonacci influenced potential, and then confirmation, of the all-time top and reversal.

As we’ll see below, price action continues with Fibonacci.

Nvidia NVDA, Weekly

This week, is ‘Week 13’, from the all-time high.

Fibonacci correlations continue on the daily.

Nvidia NVDA, Daily

So far as of 1:53 p.m., EST, it’s an inside day for NVDA, with yesterday as the potential ‘short squeeze’, retrace high.

Yesterday was also a Fibonacci 5-days, from the most recent low (Day 55).

Retrace High

As is typically the case, the crowd is still euphoric (maybe even more so) long after the high.

This is typical ‘bubble’ behavior … the party goes on (even harder) as the ship goes down (not advice, not a recommendation).

Stay Tuned

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