This market rally has been led by NVIDIA.... to know if this is a pullback or start of a reversal one needs to look at the technicals of this stock. On Friday, NVIDIA's price action showed a reversal engulfing candle, the sign of price reversal. But there has been a few pullbacks before in this rally... why is this time is different ?
The difference is the volume. On Friday, the reversal engulfing candle is enforced by huge volume... 106 million shares transacted, the highest volume in more than a year. That means it is not manipulated by a small group but a widespread action. If NVIDIA let the market up, it may be the one to lead the market down.... the start of a market reversal... watch the market closely over the next few weeks, especially NVIDIA.
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