Then, The Fed

There are four more trading days left to compete the bar on the 8-Day, chart of Nvidia, below.

What are the chances it continues on higher into resistance?

If it does, it’s the 50% retrace of the entire move from highs on January 7th, to the lows of March 11th.

Then, The Fed

We have a Fed meeting this coming week, 18th and 19th.

Could any announcement be used as an ‘excuse’ to propel the market higher … straight into resistance?

Nvidia Fibonacci 8-Day

Who uses an 8-Day chart?

Not anybody I know 🙂

If Nvidia continues to rally, one would expect the SOXX, to move higher as well … potentially creating yet another short opportunity (not advice, not a recommendation).

Lastly, Ed Dowd

Here’s a link to a recent interview. At time stamp 37:48, he spills the beans on The Fed.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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