Big Seven Will Drive $SPX Up Break Its Key Levels

TechnicalHunter
2023-10-03

$NVIDIA Corp(NVDA)$ Moving averages shows the price just above its MA21 and got some pressure on its MA50.

Below are some price target levels, $NVIDIA Corp(NVDA)$’s price target upgrade to $750 from $670. Analysts are bullish on Nvidia with an average price target of $644. The highest price target is $1,100.

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If giant tech companies includes $Apple(AAPL)$ $Microsoft(MSFT)$ $Alphabet(GOOG)$ $Amazon.com(AMZN)$ $NVIDIA Corp(NVDA)$ will continue to rise, The S&P 500 may up break its key levels.

Stocks with most active options trading:

$Tesla Motors(TSLA)$ - 2.949M

$NVIDIA Corp(NVDA)$ - 1.215M

$Apple(AAPL)$ - 888k

$Amazon.com(AMZN)$ - 721k

$Advanced Micro Devices(AMD)$ - 572k

$Meta Platforms, Inc.(META)$ - 567k

$Palantir Technologies Inc.(PLTR)$ - 513k

$Microsoft(MSFT)$ - 379k

$Nike(NKE)$ -347k

$Carnival(CCL)$ - 323k

$Alphabet(GOOGL)$ - 280k

$Micron Technology(MU)$ - 248k

$ChargePoint Holdings Inc.(CHPT)$ - 234k

$AMC Entertainment(AMC)$ - 208k

$Rivian Automotive, Inc.(RIVN)$ - 198k

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Comments

  • MIe
    2023-10-03
    MIe
    Magnificent 7 low is good opportunity to buy before big tech q3 earnings in oct nov .. upside
  • frostiix
    2023-10-03
    frostiix

    Markets down yet NVDA wants to go higher. If markets were flat or higher, NVDA would be at $470 today. Buy weekly calls at the open.

  • AugustineMac-
    2023-10-03
    AugustineMac-

    Boys and girls… this is another clear sign NVDA is going higher today and this week. When NASDQ is down 100 and stock is up, you pounce and buy the weekly calls or sell puts for a quick profit. Said this two weeks ago in similar situation. Buy and be rewarded.

  • TechnicalHunter
    2023-10-04
    TechnicalHunter

    Disappointing outcome, but I remain very optimistic about $SPX melting up to all time highs. Although, price needs to resolve with a corrective decline lower in the 4180-4140 range. If so, the upcoming projection actually holds more upside potential as the previous is likely invalid. 4180 holds confluence of the 38.2% retrace from the October 2022 low, 127.2% ext. of A | B, & 20 points beneath the 200MA, which often produces multi-month bottoms.

  • mizzle
    2023-10-03
    mizzle

    It must be GUT WRENCHING for shorts to wake up to the futures TANKED but see NVDA up. $465 today?

  • ColinThorndike
    2023-10-03
    ColinThorndike

    There's a LOT of room for NVDA to run this fall into the Santa rally in December.

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