NVIDIA and the whole stock market is topping out. I see a crash coming perhaps within the next month or two. NVIDIA has weekly bearish divergence on the RSI so a drop is imminent and a possible multi year downtrend as the chart shows. The valuation is over 2 trillion, thats a little ridiculous as are most valuations on these companies. This blowoff in the stock market is now the whales who bought at the bottom unloading their bags onto the new investors. I can see it in the comments. As soon as I read on a live stream that NVIDIA is going to save the world and go to 20k by some randinos, that indicates to me that its the top.
THIS BELOW IS A NEAT LITTLE READ, NOT MY OWN THIS IS BY Justin Gabriel | Feb 17, 2023
In 1929, at the height of an economic boom in America, Joseph Kennedy Sr. (father of JFK) was working as a stockbroker on Wall Street. As the story goes, Joseph was walking around when he decided to sit down for a shoeshine. While polishing his shoes, the young worker gave Joseph some of his favorite stock picks. When Joseph heard the shoeshine boy giving out stock tips, he figured the party was about to end, and it was time to get out of the market. Joseph proceeded to exit his positions in the market and bought short positions that bet on the market going down.
Shortly after that, the stock market entered a free fall. On Monday, October 28, 1929, the market dropped about 13%. The next day it fell another 12%. These became better known as Black Monday and Black Tuesday, and ushered the United States into The Great Depression.
THIS BELOW IS A NEAT LITTLE READ, NOT MY OWN THIS IS BY Justin Gabriel | Feb 17, 2023
In 1929, at the height of an economic boom in America, Joseph Kennedy Sr. (father of JFK) was working as a stockbroker on Wall Street. As the story goes, Joseph was walking around when he decided to sit down for a shoeshine. While polishing his shoes, the young worker gave Joseph some of his favorite stock picks. When Joseph heard the shoeshine boy giving out stock tips, he figured the party was about to end, and it was time to get out of the market. Joseph proceeded to exit his positions in the market and bought short positions that bet on the market going down.
Shortly after that, the stock market entered a free fall. On Monday, October 28, 1929, the market dropped about 13%. The next day it fell another 12%. These became better known as Black Monday and Black Tuesday, and ushered the United States into The Great Depression.
Bearish divergence on RSI 5 day. Double top RSI into a double top this thing is about to collapse it looks like. Check out what happened at the last divergence. The price came back down to test the trend line again. I am predicting that either starting this month or next that stock market is in for a major correction and cryptos are going to fly as people look for somewhere to put all that money. The stock market bubble is about to pop. I give it till May.
NVIDIA is going to come down to the trend line at 250 over the next couple years as the stock market bubble drains into the new crypto boom. At that point we will see where we are at.
Volatility is at a max and MACD is about to curl over. Also you can see when this much bearish divergence starts building up a reversal is imminent!
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