Rally Into Earnings, (maybe) Good For Shorts

Yesterday’s post said to “expect a test of … support.”

That’s what we got.

Price action sliced through support levels for Nvidia and then rallied into the close.

This morning’s action continued that rally.

Short position SOXS-25-08, was exited early in the session (when SOXX, daily high exceeded yesterday’s high) with profit at +19.4% (not advice, not a recommendation).

Nvidia NVDA, Daily

Today, is Fibonacci ‘Day 34’, from the all-time highs.

Tomorrow, is Day 8, from the 2/18/25, pivot high.

Earnings are scheduled for release at 4:20 p.m., and conference call at 5:00 p.m., EST.

Stay Tuned

Charts by StockCharts

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