.SPX: What's the Next Direction?

MasterWU
02-04 09:55

1.

$NVIDIA(NVDA)$ dropped 25% from ATH, closed at the lowest level in 4 mons. With President Trump's "Trade War 2.0" quickly spills over to China, E.U., etc., will the AI-momentum that has propelled the high-tech stocks survive this round of shakeup & uncertainties?

2.

RIGHT AT THE LINE:

(1) Do/Die for both camps, so there is no margin of error--in fact, the market dutifully parks the car right at the edge of cliff.

(2) not convincing either direction, but two bearish features: one is < 6K, the other is the rebound is a zigzag corrective wave

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3.

5992 zone: $.SPX(.SPX)$

(1) no margin of error here--for bulls, they have to defend this line--MA[50]+many confluence points;

(2) if they lose it by the end of day, things may get ugly very quickly, as the trend begins turning down at the daily level.

(3) so far, just hanging in there.

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Comments

  • KSR
    02-04 10:27
    KSR
    👍
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