Nvidia

  • NVDA

  • $140

  • -2.37%

  • $142

  • $142

  • $137

Granny Shots

Ticker Appearances

Daily Technical Strategy
Tue, October 22, 2024 | 6:56PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Breadth starts to tail off while many just concentrate on NVDA

EQUITY TRENDS REMAIN BULLISH, YET SPX IS CLOSE TO SEVERAL PROJECTED TARGETS NEAR 5900 WHICH SHOULD SLOW THIS RALLY DOWN AS IT NEARS THE END...

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Tue, October 22, 2024 | 11:08AM ET

⚡ FlashInsights

Tue, October 22, 2024 | 11:08AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
NVDA -2.37%  breakout is certainly an intermediate-term bullish development, but could easily show some consolidation into late November before a further runup to 180-190 into next Spring/Summer. Technically, I expect upside to be limited to 147-155 in the short run, and it could consolidate LOWER over the next month into and past the US Election and provide better buying opportunities for investors in about 4-6 weeks. Key level of support is 131, lining up with the peak from late August. I expect a TRADING RANGE for NVDA between now and December between 131 and 155 and while the stock has been rising sharply lately, this likely will stallout by the end of October and begin to weaken, technically speaking, to alleviate some of its overbought conditions.
Tickers
Mon, October 7, 2024 | 11:42AM ET

⚡ FlashInsights

Mon, October 7, 2024 | 11:42AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
NVDA -2.37%  making an important bullish breakout today, getting back above 126.50, & is actually surpassing Sept peaks at 127.67. This is a very bullish move on a lackluster Monday where QQQ and SPX are lower. Any daily close above 126.50 should lead back to 140 initially near the peaks from late June. Very encouraging technical move today.
Tickers
Mon, October 7, 2024 | 11:42AM ET

⚡ FlashInsights

Mon, October 7, 2024 | 11:42AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
Fractional decline to kick off the new week in US Equities, but Technology's relative strength is helping this market hold up a bit better than it would without its influence. Financials and Utilities are down 1%, and 10 of 11 sectors are lower, with just Energy up today. TNX is back over 4%, and China's FXI has gapped up again and now trading over $36. This pattern in SPX is not too negative and represents just some minor backing and filling which then should begin to turn higher back to new highs. Key for ^SPX -0.78%  will be 5753 while for S&P Futures that level lies at 5808. Both are important technical catalysts, and expect that Tech should lead on this rally over next couple weeks given the strength in key Tech names like NVDA -2.37%  and AAPL -2.39% . S&P should not undercut 5677 in my view, and should be starting to stabilize today after early weakness.
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First Word
Fri, October 4, 2024 | 7:45AM ET
Tomlee
Tom Lee, CFA AC

Head of Research

Sept jobs report - upside vs 150k consensus better. Watch the VIX to sense when Oct "iffy" period ending.

VIDEO: We are watching the VIX to get a sense when the "iffy Oct" period might end, both VIX falling below 17 and VIX term...

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