NVDA appears to have completed 5 waves down for larger Wave 1 and I'm seeing a similar setup for SPY. If we are in Wave 2, we will retrace 0.618 or 61.8% of Wave 1 to reach a target of 124. We will most likely see a pull back around 119.
Note
NVDA and other stocks facing resistance and high RSI on the 1HR. Sold and waiting for a gap or two to get filled on the downside before reentering. We could be heading into wave B (down) of wave 2 up.Note
looking for gap fill at 109Note
NVDA targets for weekPT1 115
PT2 102
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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.