Can we go back to reality?Congratulations NVDA, because you delivered everything you could deliver in terms of good results, however, can we get back to reality?
Will the Black Monday that we experienced in 1987, in the DOW JONES index, be experienced again in 2024, and thanks to NVDA and technology companies?
We know what happened between 1980 and 1985 to the American economy, right?
It is known that in the 1980s and early 1990s, dollars could circulate freely around the world, so much so that we had a global economic miracle, and the world was swimming in booming growth.
But, at the current moment, dollars can no longer circulate freely around the world (FED, China, Russia) and continue contributing to global growth? Therefore, the technological war we are experiencing today (chips and electric cars), diverted dollars to these sectors, further inflating this bubble that is about to burst.
Speaking of electric cars, China is firmly dumping its electric cars around the world at very reasonable prices (as it has no intention of breaking its internal market – control), once and for all destroying the automobile industry in many emerging countries, oh my, no?
Let's go graphics.
Monthly: NVDA has reached the three golden levels of the FIB of the SETUP used, so there is nowhere else to go. So, SPX, get ready.
The red lines are resistance points.
Weekly: With the brilliant financial report recently released, prices are ready to seek the golden region of this chart period.
The red lines are resistance points.
Daily. Prices have reached the region of 100% of the bullish pivot.
The red lines are resistance points.
Do your analysis and good business.
Be aware, if you buy, use stop loss.
See other graphical analyzes below.
