Crash Incoming finally?
Stock Market Crash begins this week??
Looking at Utilities.... they are perched on the same trendline before they crashed in 2002 and 2008...
Reason it could start tomorrow after hours....
1. Crashes usually happen when your oversold... We are right now
2. Bonds are in position for a crash
3. DXY is ready to Rocket
4. Nvidia earnings after hours tomorrow..... the company that created this massive bear market rally... Nvidia is the AI king... And as the AI king they provided crazy guidance last earnings which created this massive bull market limited to tech.... No company has every had earning guidance for the next quarter with such a massive jump... Can they do it...sure.. they are selling AI chips for 30K a piece...
The problem is supplies..... I'm not sure they were able to deliver the crazy outlook they promoted due to supply constraints plus I think AI mania is dying down....
Basically if they don't make earnings .... I believe that will be the catalyst for Nvidia stock to crash and start bringing the market down with it....
Even if they somehow make earnings if their guidance isn't shooting for the moon still that could kill the mania....
I thought the market would crash till AI saved it... So now I'm wondering if AI could be the catalyst that kills the market. It makes perfect sense... Most everyone is no longer short....
I see no reason for this market to keep going up from here.... it needs a catalyst to knock it down...
All the analyst and most people think Nvidia will kill earnings... The market loves to catch people offsides...this would be the perfect moment.
5. JPowel Friday
6. Mercury goes into retrograde tomorrow 8-23-2023 (bad for technology)
Looking at Utilities.... they are perched on the same trendline before they crashed in 2002 and 2008...
Reason it could start tomorrow after hours....
1. Crashes usually happen when your oversold... We are right now
2. Bonds are in position for a crash
3. DXY is ready to Rocket
4. Nvidia earnings after hours tomorrow..... the company that created this massive bear market rally... Nvidia is the AI king... And as the AI king they provided crazy guidance last earnings which created this massive bull market limited to tech.... No company has every had earning guidance for the next quarter with such a massive jump... Can they do it...sure.. they are selling AI chips for 30K a piece...
The problem is supplies..... I'm not sure they were able to deliver the crazy outlook they promoted due to supply constraints plus I think AI mania is dying down....
Basically if they don't make earnings .... I believe that will be the catalyst for Nvidia stock to crash and start bringing the market down with it....
Even if they somehow make earnings if their guidance isn't shooting for the moon still that could kill the mania....
I thought the market would crash till AI saved it... So now I'm wondering if AI could be the catalyst that kills the market. It makes perfect sense... Most everyone is no longer short....
I see no reason for this market to keep going up from here.... it needs a catalyst to knock it down...
All the analyst and most people think Nvidia will kill earnings... The market loves to catch people offsides...this would be the perfect moment.
5. JPowel Friday
6. Mercury goes into retrograde tomorrow 8-23-2023 (bad for technology)
Comment:
I overlaid the SPX on the Weekly
Order cancelled:
It's not time yet...Stocks will have another up cycle due...See my newer ideas..