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 case is building for Nvidia’s downside reversal; this morning’s pre-market action, is no exception (not advice not a recommendation).
With the caveat that anything can happen, we have in the chart below, nascent confirmation(s) of a downside channel.
Nvidia NVDA, Daily
Within the channel, we’re also in Wyckoff Spring position (testing support), ready to move higher.
However, springs can fail.
If Nivida opens lower in the regular session (currently, 8:05 a.m., EST), ‘normal’ market behavior is an attempt to close the gap (not advice, not a recommendation).
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.
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.
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.
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.
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.
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.
“Technically speaking and from a Wycoff standpoint, any push past and into the 38%, level (lower, blue dashed-line), puts CVNA in ‘up-thrust’ (potential reversal) position.”
For that day, CVNA retraced upward to 50%, posted the up-thrust, then reversed (not advice, not a recommendation).
Carvana CVNA, Daily
Depending on A.I., and Nvidia specifically (more upside?), there’s a chance of a close above the 332.33 level previously discussed (not advice, not a recommendation).
However, some think last week was ‘it’; the market has cracked.
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.
Warren Buffett has a massive cash hoard; now, famous short-seller Michael Burry is calling it quits, links here, here and here.
The last time this type of news happened in a big way, was right around the Nasdaq peak in 2000 (not advice not a recommendation).
Back then, ‘old-timers’ with forty-years in the business, were throwing up their hands, throwing in the towel and retiring; the market ‘did not make sense anymore’.
NVDA, CVNA & Biotech
With Nvidia posting a new low today, the analysis shown here, is proving to be accurate thus far (not advice, not a recommendation)
Additionally, Carvana posted an up-thrust (reversal) as presented in this post (not advice, not a recommendation).
Next up, is biotech, XBI.
Biotech XBI, Hourly
We’re in up-thrust condition (potential reversal) have a ‘sign of supply’ and now testing the upside.
Note: The ‘test’ has exceeded the previous high. Although rare, it can happen.
So, is it a test or a continuation of an upside breakout?
The rest of the markets seem to be in a similar condition.
Carvana just posted a new daily high (as of 11:25 a.m., EST), possibly taking out the (early) shorts.
Let’s see if it manages to close above that 332.33, level discussed in this post (not advice, to a recommendation).
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 last update, showed a wedge ‘throw-over’, then questioned (upper right of chart), ‘Will there be a test?’
Well, indeed there was a test (shown below). What happens next?
From one of Ed Dowd’s latest interviews, link here (Time Stamp: 4:30), he talks about ‘intervention’ within the A.I. bubble. He’s referring to news of this link.
His point: He thinks as a result of government equity stake, there could be ‘one more thrust higher’ before reversal.
The suggestion on this site, the news is already out.
The thrust higher may have already happened (not advice, not a recommendation).
Nvidia NVDA, Daily Close
There’s always the possibility of a secondary test.
However, if NVDA has actually completed its throw-over test, and reversed, the example at this link (video), shows it can all fall apart very quickly (not advice, not a recommendation).
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® 