Red week again! Consolidation for next leg up or down?!
We were leaning bearish this week and we were right to do so. We are leaning bearish for the weeks to come ahead as technicals and flows are bearish as warned since 16th june.
Markets has shown significant weakness and if you dont see it, you are about to get trapped towards the downside.
Markets usually tend to drop slowly before it accelerates because the first drop will be deemed as a pullback catching the bulls who buy the dip thinking it goes higher.
Once the relief rally ends and the next leg down starts, it usually is the larger and faster leg because those who bought those dips start to cut off loss excabating the move downwards.
Key is to know whether this is a pullback to go higher or only the start of the next leg down!
Watch the video as I share technicals on why it is leaning bearish the next couple of weeks at least.
We dont nail tops and bottoms through luck. Because you can be lucky a few times, but when you keep doing it, its due to experience, knowledge of technicals and also knowledge of market flows!
As always, trade safe and invest wise!
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Video Link:
https://youtu.be/fp873kbye5M
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Comments
Nvidia Stock Price Forecast 2023-2024:Nvidia price started in 2023 at $146.14. Today, Nvidia traded at $422.09, so the price increased by 189% from the beginning of the year. The forecasted Nvidia price at the end of 2023 is $544 - and the year to year change +272%. The rise from today to year-end: +29%.
NASDQ Down 300 this week NVDA back to $400 or 399 watch the futures it helps predict buy and sell signals. This week is selling its the season.
Recently AMZN is investing capital heavily. We will see the outcome shortly. When AMZN started stock was not going any where. When capital spending stopped, stock skyrocketed. Same is going to take place soon.
NVDA Has a Tripple Top if that isn't a sell signal the market might have to use something stronger for those of you who don't understand markets go up and longs make money if they sell I DID
Nothing wrong with AMZN and will have very large market all over the world. Right now, it is in expansion gear. Soon money will restart flowing in fast..