Nvda... where we stand

Earnings this week...

Upside move 195-200 if they pump this but any opening near 200 should be faded .. I'm looking towards a 140 test in Sept - Oct.



Weekly is really overbought , I wouldn't chase this up here.. I'm looking for a move similar to what TSM did after blow out earnings which is gap up to weekly trendline and fade




Biggest red flag here is SMH (Chipsector)
Zoomed out you can see price is rolling over at resistance here


Zoomed in and you can see , Wyckoff distribution


You'll be lucky if SMH gives you one more pop but this sector and the underlying top stocks are headed for a 20-30% correction (Maybe more).. I'd stay away from the longs until Seasonality flips again around late Oct early November

See the link from the AVGO and TSM .. they are already finished. NVDA IS THE FAT LADY SINGING.

Eventually NVDA will retest the bottom of this channel , this move will like come with a break below 90 but first we would have to break back below 140..

So my analysis is, Nvda has room for 190-200 if it beats on earnings, if it goes red and drops below 167 it's a short back to 140's..

Either way, we will see 140