Stock Markets Analysis and Opinion
Nvidia: One Stock Does Not Make a Market
2023.08.24 09:20
So the world has decided the only stock that matters is a former maker of gaming graphics cards that has been the beneficiary of AI fever, NVIDIA Corporation (NASDAQ:).
Personally, I am in the camp that believes that the counter-trend bounce (which I correctly surmised was starting last Friday morning at the opening bell) is through, or very close to, through. This 4-hour chart of the is relatively compelling to me. I’m going to start putting my dry powder to work.
It also helps that Fear Has Left the Room again, as illustrated by the /VX futures.
Added to this, bonds have resumed their weakness. Of course, the real fireworks for these could be experienced Friday morning, when Powell does his little presentation.
