Hi Zan. Reading this, I thought this was leaning bullish near term but in the group chat you mention it can go down. I'm a bit confused on how to read your analysis, if there is some guidance you can provide, id greatly appreciate ☺️🙏
Before the earnings report, the wedge was looking bullish coiling against the support line, but it left white space above, unusual for investors not to drive the price higher towards resistance. After hours, this white space confirmed the weakness and the price broke down below support. If you are thinking tomorrow only, the price will be volatile tomorrow, meaning a wide range on NVDA, and it may feed both bulls and bears. SVIX tells me if it opens at the top, volatility must go higher at open since svix needs to go down, so i expect nvda to go down first before up based on this alone. The other chart i showed with the triangle for the monthly forecast on NVDA follows what i just posted about oil with WTIU that in the next few months until Aug 24th oil is expected to rise, also volatility, and NVDA should follow the square+triangle fractal down June to August. I also said that between now and June 5th to June 11th the market can put a new minor ATH or revisit the previous high, and that’s it for now. Those that want the $7800 and $9000 need to wait until the August 24th period. To summarize, short term upwards bias until the first week of June. Tomorrow volatile NVDA, Friday maybe an up day to flat as is the tradition with 3 days weekends. My real bets personally on the market will begin June 11th.
Hi Zan. Reading this, I thought this was leaning bullish near term but in the group chat you mention it can go down. I'm a bit confused on how to read your analysis, if there is some guidance you can provide, id greatly appreciate ☺️🙏
Before the earnings report, the wedge was looking bullish coiling against the support line, but it left white space above, unusual for investors not to drive the price higher towards resistance. After hours, this white space confirmed the weakness and the price broke down below support. If you are thinking tomorrow only, the price will be volatile tomorrow, meaning a wide range on NVDA, and it may feed both bulls and bears. SVIX tells me if it opens at the top, volatility must go higher at open since svix needs to go down, so i expect nvda to go down first before up based on this alone. The other chart i showed with the triangle for the monthly forecast on NVDA follows what i just posted about oil with WTIU that in the next few months until Aug 24th oil is expected to rise, also volatility, and NVDA should follow the square+triangle fractal down June to August. I also said that between now and June 5th to June 11th the market can put a new minor ATH or revisit the previous high, and that’s it for now. Those that want the $7800 and $9000 need to wait until the August 24th period. To summarize, short term upwards bias until the first week of June. Tomorrow volatile NVDA, Friday maybe an up day to flat as is the tradition with 3 days weekends. My real bets personally on the market will begin June 11th.
Thank you for detailed information and clarity much appreciated ✨💕