Nvidia (NVDA) on the Daily is forming a "Hanging Man Candle." The is a Bearish Reversal Candle that can form after a price advance. For a "Hanging Man Candle," the body can be either green or red. The lower wick should be at least twice as long as the body, and there should be a small wick on top of the body. Confirmation is confirmed when the price moves lower on the next candle. Having this on the Daily Chart creates a strong chance that NVDA is about to decline and create a reversal trend.
Nvidia has had a strong move up from $471 to a new all time high of $568. With Market weakness and a strong chance of a Market correction this reinforces the chances of a reversal in NVDA playing out.
I also noticed this candle stick appearing on AMD....
If the Semiconductor sector collapses there won't be much left to hold up the Indexes which are in "Extreme Greed" and have been for a while. With the dollar rising, gold declining, the VIX crossing the $15 threshold, and rising Bond yields which all our bad for stocks I feel that this market is on the verge of an eminent crash. I am shorting the indexes with SPXS, SQQQ, and SRTY. I am not holding any long positions. I even moved my 401K to Stable Value until the coast clears.
J. Powell speaks on Jan 30th. He will not be delivering rate cuts in March that the market had already factored in. In fact with the higher CPI numbers and the better than expected Retail Sale numbers that came out today we man not get a rate cut until at earliest mid to late summer.
Nvidia has had a strong move up from $471 to a new all time high of $568. With Market weakness and a strong chance of a Market correction this reinforces the chances of a reversal in NVDA playing out.
I also noticed this candle stick appearing on AMD....
If the Semiconductor sector collapses there won't be much left to hold up the Indexes which are in "Extreme Greed" and have been for a while. With the dollar rising, gold declining, the VIX crossing the $15 threshold, and rising Bond yields which all our bad for stocks I feel that this market is on the verge of an eminent crash. I am shorting the indexes with SPXS, SQQQ, and SRTY. I am not holding any long positions. I even moved my 401K to Stable Value until the coast clears.
J. Powell speaks on Jan 30th. He will not be delivering rate cuts in March that the market had already factored in. In fact with the higher CPI numbers and the better than expected Retail Sale numbers that came out today we man not get a rate cut until at earliest mid to late summer.