It seems like the top ten Nasdaq 100 mega companies are due for a beating in the coming weeks as we head towards the much anticipated rate hikes, tapering, and balance sheet shrinking. Nvidia is also suffering with the Covid supply issue as well as a decline in sales as pricing for their products like graphics cards are selling for 2x MSRP. It doesn't seem like the supply chain issues will resolve anytime soon.
Key Factors
- P/E of 223 as of Jan 25th.
- Closed Below 50MA
- Closed Below 100MA
- MACD on 1W is Bearish.
Trade active:
Trade Active: Earnings Season rally will take a back seat to FOMC and economic data.
Order cancelled:
It seems like no matter how good charts get, it is almost impossible to predict movements when the stock market no longer takes account economic data, geopolitical events. The market has become so unpredictable now that the Fed Market Makers and PPT move the markets as they wish. The movements are all fake without base or cause. This market is disconnected from reality altogether.
