Nvidia are dictating spx price?! SHORT?????
My reasoning is how nvidia bull run pushed s&p in a way that resembles each others charts.
why is it so important? both amazon and s&p are printing a possible double top on the daily chart.
Nvidia is trying to push further but it meets some resistance along the way (resembles a double top although higher high)
it is possible, and i believe it very so. nvidia will pump higher until it reaches its last resistance.
this would happen while the rest of the companies wont have strong movement:
either sideways because nvidia is pushing and their preformance is trash or upwards because nvidia is pushing and their preformance isnt that terrible.
that sort of movement would complete the second head well enough.
what would happen is somewhat of a death cross - a reversal of trend while nvidia is pushing to its last resistance.
at that point nvidia smart money would rake the profits and the selling spree will comence. the worse preformance companies who were in the shadows would be showing red from nvidia correction as reality hits in the face and so would spx500 would show a correction just like nvidia.
This is only a story, a scenerio. i believe its a possiblility whole heartedly but its nothing than a story at the moment of writing this article.
what to look for?
1.any chart in the spx that reminds spx in price action
2.nvidia finally hitting final resistance
3. ofc govermental reports
4. signs of trend reversals such as death cross etc.
Be very aware of the market because this will move in a way most traders would not notice. until its way too late.
why is it so important? both amazon and s&p are printing a possible double top on the daily chart.
Nvidia is trying to push further but it meets some resistance along the way (resembles a double top although higher high)
it is possible, and i believe it very so. nvidia will pump higher until it reaches its last resistance.
this would happen while the rest of the companies wont have strong movement:
either sideways because nvidia is pushing and their preformance is trash or upwards because nvidia is pushing and their preformance isnt that terrible.
that sort of movement would complete the second head well enough.
what would happen is somewhat of a death cross - a reversal of trend while nvidia is pushing to its last resistance.
at that point nvidia smart money would rake the profits and the selling spree will comence. the worse preformance companies who were in the shadows would be showing red from nvidia correction as reality hits in the face and so would spx500 would show a correction just like nvidia.
This is only a story, a scenerio. i believe its a possiblility whole heartedly but its nothing than a story at the moment of writing this article.
what to look for?
1.any chart in the spx that reminds spx in price action
2.nvidia finally hitting final resistance
3. ofc govermental reports
4. signs of trend reversals such as death cross etc.
Be very aware of the market because this will move in a way most traders would not notice. until its way too late.
as of this moment: daily ema of 200 is still in the green(also it looks like nvidia is still having juice)