Still counting this advance as an irregular (B) wave
I have long stated that the upcoming earnings catalyst will develop into a sell event. When I last updated I was anticipating an incremental new high and possible double top for intermediate (B) into the confluence area of the larger and shorter term 100.0% fibonacci extension areas.
Although we have exceeded that area for a double top, we're still in the target box I had included on the chart. With the markets acting somewhat parabolic to the upside, I think it says volumes that the AI standard bearer has only marginally benefitted.
Next Wednesday will certainly be interesting. I am expecting price to make it's way down closer to $100 area...if not, then my alternative purple count is playing out and complete the larger wave I for a long term top in Nvidia.
Best to all,
Chris
Although we have exceeded that area for a double top, we're still in the target box I had included on the chart. With the markets acting somewhat parabolic to the upside, I think it says volumes that the AI standard bearer has only marginally benefitted.
Next Wednesday will certainly be interesting. I am expecting price to make it's way down closer to $100 area...if not, then my alternative purple count is playing out and complete the larger wave I for a long term top in Nvidia.
Best to all,
Chris
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