Earnings this week...
Upside move 195-200 if they pump this but any opening near 200 should be faded .. I'm looking towards a 140 test in Sept - Oct.
Weekly is really overbought , I wouldn't chase this up here.. I'm looking for a move similar to what TSM did after blow out earnings which is gap up to weekly trendline and fade
Biggest red flag here is
SMH (Chipsector)
Zoomed out you can see price is rolling over at resistance here
Zoomed in and you can see , Wyckoff distribution
You'll be lucky if SMH gives you one more pop but this sector and the underlying top stocks are headed for a 20-30% correction (Maybe more).. I'd stay away from the longs until Seasonality flips again around late Oct early November
See the link from the
AVGO and 
TSM .. they are already finished. NVDA IS THE FAT LADY SINGING.
Eventually NVDA will retest the bottom of this channel , this move will like come with a break below 90 but first we would have to break back below 140..
So my analysis is, Nvda has room for 190-200 if it beats on earnings, if it goes red and drops below 167 it's a short back to 140's..
Either way, we will see 140
Upside move 195-200 if they pump this but any opening near 200 should be faded .. I'm looking towards a 140 test in Sept - Oct.
Weekly is really overbought , I wouldn't chase this up here.. I'm looking for a move similar to what TSM did after blow out earnings which is gap up to weekly trendline and fade
Biggest red flag here is
SMH (Chipsector)Zoomed out you can see price is rolling over at resistance here
Zoomed in and you can see , Wyckoff distribution
You'll be lucky if SMH gives you one more pop but this sector and the underlying top stocks are headed for a 20-30% correction (Maybe more).. I'd stay away from the longs until Seasonality flips again around late Oct early November
See the link from the
AVGO and TSM .. they are already finished. NVDA IS THE FAT LADY SINGING.Eventually NVDA will retest the bottom of this channel , this move will like come with a break below 90 but first we would have to break back below 140..
So my analysis is, Nvda has room for 190-200 if it beats on earnings, if it goes red and drops below 167 it's a short back to 140's..
Either way, we will see 140
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.