NVDA against bouncing for real

Monica Kingsley Monicakingsley

S&P 500 wasn‘t driven just by NVDA – while limited to tech and communications, the set of advancing key stocks was much broader. Very fine 2y auction paved the way for that – 4.70% yield vs. 4.92% prior, that‘s quite a vote of confidence even if the 500-strong index still lacks breadth.

My SPY correction target announced in the weekend premium analysis, provided enough of a support for swing and intraday clients to reap gains – here, I‘ve opened the analytical part in full.

With housing data and unemployment claims culminating Friday in core PCE, we have plenty to look forward for – and forget not MU earnings after the close.

Way more detailed analysis is as always in the premium sections, for now let me show you the bond market perspective (odds of not cutting in Sep went marginally up to 36%, and Russell 2000 is still under pressure, no surprise here, I haven‘t been talking it bullishly for weeks) and check also the situation in NVDA bearing upon so much of Nasdaq. Both NVDA and MU are up premarket.

Let‘s mve right into the charts – today‘s full scale article contains 3 more of them, with commentaries.

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Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

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