NVDA Strong Action After Earnings

Hi everyone,

I hope you are having a great Wednesday!

In this post I’ll concisely share my thoughts on the day’s action. And share a bunch of stock charts that caught my eye.

Now let’s dive in ↓

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Market Action

The QQQ closed under the 21 ema but after a good upside reversal

IWO put in an upside reversal at the 21ema

Trends ( Based on QQQ)

Shortest - 5 Day SMA - Down - Below Declining

Short-term - 21 ema - Up - Above Rising

Intermediate term - 50 sma - Up - Above Rising

Longterm - 200 sma - Up - Above Rising

Group/Themes Action

Mixed bad with some growth names showing good reversals and others seeing more distribution. If we get a gap up and strong day tomorrow we could have put in a swing low

Daily Performance charts from the open:

Key Stocks in Deepvue

NVDA strong report. Set to gap tomorrow

APP can we U turn

ARM strength today

PLTR worth keeping an eye on

AMD likely moves with NVDA tomorrow

HOOD pulling back into the HVC

SHAK holding up well

Market Thoughts

NVDA earnings are now behind us, see how things act tomorrow. Know your plan going into the sessions with what if scenarios

Reminder:

Risk Management is Paramount

Refuse to enter randomly without managing risk and wait for the spots to develop, they will. Stocks during strong moves always pull back to the 21 ema, 50 sma multiple times. Look for a tight and logical entry point.

Have patience, focus on the best stocks with the greatest potential. These will telegraph the rest of the market.

Take it day by day and manage risk along the way. Be ready for anything

What are your thoughts on today’s action? (Leave a comment below)

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Richard


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