-MY MVP SYSTEM-
Momentum: NVDA has been moving in a down sloping pattern; it is now breaking out to the upside
Volume: vol spike when price dipped below the downtrend line (looks like a Wykoff spring); some overall inc vol lately
Price: it is <200ma, so caution is warranted; can’t rule out this downward channel as a possible bull flag; it’s a pretty clean move
*I don’t trade NVDA. I use it as a major market indicator. Over the past 1-2wks, my alerts went off for ES, NQ, and RTY - all to the upside. It would be nice to see gold move down for more confirmation that big $ is shifting into indices.
*The RSI is still around 50 and could definitely fake to the upside & then slice all the way down through the triangle.
*Weekly & Monthly charts still show a major break in the indices. This move up does not look like a resumption of a bull trend. A lot of repair would be needed on the long term charts for that.
Momentum: NVDA has been moving in a down sloping pattern; it is now breaking out to the upside
Volume: vol spike when price dipped below the downtrend line (looks like a Wykoff spring); some overall inc vol lately
Price: it is <200ma, so caution is warranted; can’t rule out this downward channel as a possible bull flag; it’s a pretty clean move
*I don’t trade NVDA. I use it as a major market indicator. Over the past 1-2wks, my alerts went off for ES, NQ, and RTY - all to the upside. It would be nice to see gold move down for more confirmation that big $ is shifting into indices.
*The RSI is still around 50 and could definitely fake to the upside & then slice all the way down through the triangle.
*Weekly & Monthly charts still show a major break in the indices. This move up does not look like a resumption of a bull trend. A lot of repair would be needed on the long term charts for that.
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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.