NVDA would be bullish
$NVIDIA(NVDA)$ : That was mild for a potential pullback, if the price stays at the current area for a while, as it did in May, a new volume shelf would be in formation, and it would be bullish.
If there is a pullback, the lower volume shelf (second arrow zone) is expected to act as strong support.
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$S&P 500(.SPX)$ : Closed on the edge of the 5 daily moving average, the line that sets momentum in the very short term.
In the last two occurrences that the RSI reached the overbought threshold, the price visited the 20DMA few days later.
Will it be different this time?
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