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ContraryTrader
Nov 4, 2022 5:32 PM

SMH (NVDA,AMD,Chips) Short

VanEck Semiconductor ETFNASDAQ

Description

Wed- rejected at resistance

Thursday- Gap down to fib support

Friday - Gapped back up to resistance today and got rejected

Its coming down too, they (MM) are just using a sector to prop things up today. Once we break back below 181, things will flush quickly.

Comments
TORNADOF5
asking to myself how nvda so strong /no meter how deep we go omg
ContraryTrader
@TORNADOF5 this is why I like to look into the sectors. They always provide clarity.. Considers these Nvda levels great short opportunities
TORNADOF5
@ContraryTrader, interesting what level nvda gona be after 181 dump / to short it i mean /i think it is going to be 130$ /127 nvda support /115 support / but it seems support on stocks not so important when indexes are crashing + the sector / thanks for your work :} im still new noob /doing nice SPXU moves with your spy charts /but hard to swing in this market fore me / a lot pin pong
ContraryTrader
@TORNADOF5, 109 is nvda next big test.. if it drops below that , you'll be look at double digits
TORNADOF5
@ContraryTrader, only then to short it ?? LoL :{
ContraryTrader
@TORNADOF5, that's not what I meant. , the short is now, with a 147 stop loss.. I was just stating that things will take on a next level of bearish if it closes below that
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