Bearish Momentum Builds: SPX Weak at Lower Band, NVDA Targets Volume Support

SmartReversals
02-15

Volatility is picking up as downside momentum builds across major indices.

With the VIX back above 20 and key leaders breaking short-term support, the current bearish move may not be over yet.

$S&P 500(.SPX)$ : Indecision at the lower Bollinger band, the 20 daily moving average curling down shows the shift in momentum.

The bearish move doesn't seem complete considering the widening band and the $Cboe Volatility Index(VIX)$ above 20.

$NVIDIA(NVDA)$ Losing the 20DMA with high-conviction suggests bearish continuation.

Lately, bearish stochastic crossovers have preceded declines until prices become oversold, which isn't the case yet.

Potential target: the lower edge of the volume profile to reach oversold conditions.

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