Is NVDA the catalyst for the market?
NVDA just had a bearish crossover of the 20 & 50 MA (Daily chart)
Last time we saw this bearish moving average formation was in early August.
NVDA proceeded to fall sharply in the coming days.
All eyes on the market leader. All eyes on the QQQ.
Will the Q’s be the demise of SPY?
If Nvidia sees anymore weakness you can be sure it will have other semis following suit.
Risk to reward in the near term is clear.
Last time we saw this bearish moving average formation was in early August.
NVDA proceeded to fall sharply in the coming days.
All eyes on the market leader. All eyes on the QQQ.
Will the Q’s be the demise of SPY?
If Nvidia sees anymore weakness you can be sure it will have other semis following suit.
Risk to reward in the near term is clear.
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