Our Live Trading Rooms Bring Together Thousands of Traders from Around the World!
NVDA Update: On the subject of the elephant in the room, the reaction to NVDA Earnings certainly is casting a huge shadow on the markets into tomorrow evening's report.From what I have been reading, for Jensen Huang and NVDA to clear the obligatory very high bar for Earnings, the company will have to excite investors with improvements in the forthcoming Rubin server rack that entail more compute, more efficient energy usage, and enhanced cooling ability embedded within each Rubin chip.
Today we saw more very tight sideways action, with the market trading in a very tight range, and clearly we have not made it out of the summer doldrums just yet. There is really very little that I can add to the previous updates as we continue this very slow action into the middle of the week.
Thus far, the metals charts are playing out reasonably well. And, with the manner in which we have rallied thus far, it is looking much more like a corrective rally, so the probabilities of the first path I outlined in my last update has dropped (that this correction has completed). Rather, it seems that this is a corrective bounce which will likely lead to another drop.What has not been determined yet is if that next drop will be pointing us to lower lows or not.
Our Technical Analysts Share Their Expertise 24/7 on a Vast Range of Markets!
