How to approach taking new positions with NVDA reporting after market?
it's not diffcult for the current market context because tech are not leading, they shouldn't be in your focus list since there isn't anything compelling in that area.
top 5 sectors now are $Consumer Discretionary Select Sector SPDR Fund(XLY)$ $Financial Select Sector SPDR Fund(XLF)$ $Health Care Select Sector SPDR Fund(XLV)$ $Materials Select Sector SPDR Fund(XLB)$ $Energy Select Sector SPDR Fund(XLE)$ (particularly right now). $Technology Select Sector SPDR Fund(XLK)$ technology is 3rd weakest in RS after utilities and consumer staples.
The interesting thing is $SPDR S&P Semiconductor ETF(XSD)$ equal weight semicon vs $VanEck Semiconductor ETF(SMH)$ cap weight semicon is vastly diverging in RS. the megacap semicon eg. $NVIDIA(NVDA)$ $Taiwan Semiconductor Manufacturing(TSM)$ $Broadcom(AVGO)$ $Advanced Micro Devices(AMD)$ is dragging SMH.
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