Technical Analysis on NVDA& .SPX

MasterWU
2023-08-24

Hello everyone! Today I want to share analysis on NVDA& .SPX with you. Hope it can be helpful to you!

$NVIDIA Corp(NVDA)$ Earnings:

(1) the sharp reversal of NVDA ystdy gave rise to a potential flat w-4 after earning;

(2) since w-2 is a sharp zigzag wave, so it is more likely w-4 would alternate it with a flat, or a more complex pattern.

(3) either way, $481.9 is not the top [see 30-min chart]

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$S&P 500(.SPX)$ Magnet 4444--as expected (see the tweet below), the rebound continues and targets the confluence zone of 4440-4450. Time-wise and price-wise, if SPX gets there, NYMO will be ready to reverse and create the divergence, as laid out earlier this week.

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MPW Mid-week Update Posted:

(1) as expected, a multi-day rebound touched 4440-4450 zone before Powell's speech on Friday;

(2) last year, Powell initiated a major crash leg with his Hole Speech, how about this year?

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