TVC:DJI NASDAQ:QQQ AMEX:IWM NASDAQ:NDX SP:SPX
Rising wedge pattern forming in S&P 500.....big banks price target forecast for fiscal year 2024 were $4800-$5600 ....eventually hitting all PT mid 2024......S&P500 fell last week and DJI rose last week with 4% percentage difference which means investors or big money booking profits from tech and large...
Have major support at 200 MA
I measured the previous move back from 170s t0o190s for the future move forecast after breaking parallel channel
Also seems like that long term triangle structure breakout retest happening near $176-$178
May bull are back for short term
www.tradingview.com
As you can see NVDA weekly RSI is over 90 indicating overbought
FOMO traders also buying NVDA against todays CPI data. Sudden drop in daily volume also indicates bulls becoming weaker.