Well, That’s It

At the open, Nvidia came within 1-point of the target (61.8%), shown in the last update.

Then, it posted an outside-down bar within the first 25-minutes.

At this point (as of 11:28 a.m., EST), since yesterday’s low was penetrated, that puts NVDA, in a minor Wyckoff Spring condition, retracing some of the early session down move.

Nvidia NVDA, Daily

The chart has been compressed, showing events appear to be taking place on a massive scale.

If the trading channel is in-effect (i.e., correct), look how far down we have to go for the ‘demand’ side.

The press and pundits are either not ready for such a move or are deflecting from actual events, links here and here.

Looks like ‘good enough’ didn’t last long:

At the open, NVDA down, immediately.

Positioning

With all the coverage put on this equity and sector, ETF, the SOXX, trading actions are matter of fact.

The sidebar shows another short via SOXS, opened early in the session. Trade is SOXS-25-09 (not advice, not a recommendation).

Stay Tuned

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