SP500: The Bounce Is Stalling, Nvidia To Trigger The Next Leg Down

Summary

  • The S&P500's recent bounce has stalled, and the next leg lower is likely approaching.
  • The specific trigger for the next leg lower could be the Nvidia earnings report on Aug. 28th.
  • Ultimately, the S&P500 is facing a recessionary bear market, and the recent volatility is in the process of topping.

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The bounce has stalled

The V-shaped bounce from the early August selloff in the S&P500 (SP500) has extended nearly to the all-time highs. However, it seems like the bounce has now stalled, and the next leg lowerNVDA

S&P500 (Yahoo)

An imminent recession trigger

2Y TNote Futures (Barchart)

The VIX and the Yen

VIX (Barchart)

The Yen (Barchart)

The Nvidia bubble burst and the bounce

NVDA (Yahoo)

Implications

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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