QQQ closed EXACTLY on the 50DMA!

On NVDA, one thing I noticed is that the trading volume is lower going into this earnings report than on the previous 3, with a cluster of smaller red bars leading into next week. The other 3 times the action was higher volume leading into earnings and there were price run ups immediately preceding earnings on 2 of those occasions.

I am actually hoping Mon - Wed are lower volume red days where the price slowly bleeds down, as I think that gives it a lot better chance of getting a jolt from earnings for once and bouncing hard off the merging 50 and 100 day moving averages (or maybe even the 20 day if its a really slow early in the week bleed). If it can bounce hard there I like it to go up and tag at least $245 within a couple weeks.

For the NVDA players. Keep this in mind.

I was burned on one of those earnings for sure! I'm staying far away for now

Gaeilge said:

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QQQ closed EXACTLY on the 50DMA!

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Ill add on this…

Closed within .31 points on the MBB on the 55 chart
Closed within 1.4 points on the 89MA on the 233 chart
Closed exactly at the 50MA on the daily chart

Which is just hilarious!

Personally I'm guessing it's got more downward still left in it….daily and weekly still look like it's got a bit more to go and the monthly indicators are all just starting to turn…

But if you want the BIG picture go look at a 3-month quarterly chart. Last quarter the QQQ had a 155 point move! Thats about 26-27% in 3 months…there's gotta be some digestion for that move and we still have the rest of August and September for that to happen….

Not saying its gonna crater just guessing it'll remain choppy continuing to the downside until we get closer to October….

For NVDA, I maintain my long position and then just trade small positions of shares. I'll typically buy back in under 200 and dump around 225. Rinse and repeat. If I get caught, I'm content to hold more long. I made a killing having bought much of my early holdings under 100 and have been net free a couple years now.

serves me right for not closing out HOOD 108CC(what a strike huh) early for pennies, was fine til the final 10min spike luckily was still able to buy back for $0.35 right before close, coulda been a lot less but at least avoided tax hit on a 4x sale and crypto might keep goin bezerk over the wkd

flashplayer said:

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Trading / timing NVDA is a fool's errand. I am a long holder and not really worried about any earnings report at all.

For trading there are a lot more well behaved stocks out there to mess with, and I would never advise playing NVDA on an earnings report for the obvious reasons.

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Trading / timing NVDA the stock market is a fool's errand.

FIFY

I agree with that to an extent, but there are plenty of stocks out there that have a lot clearer technical signaling on a short term basis than NVDA, which lately behaves more like an index than an individual stock.

I will still trade and time some of the ones that play closer to the rules.

flashplayer said:

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Trading / timing NVDA is a fool's errand. I am a long holder and not really worried about any earnings report at all.

For trading there are a lot more well behaved stocks out there to mess with, and I would never advise playing NVDA on an earnings report for the obvious reasons.

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Welp, we'll find out who's right on Wednesday.

It's entirely too quiet in here.

What's good this week?

Crypto

Sideways market churn day while algos obliterate a lot of the risk on names on low volume mostly. I've got nothing today on the names I am watching.

TTUArmy said:

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It's entirely too quiet in here.

What's good this week?

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Like an old girlfriend, I'm gonna try and rekindle the flame with NKE. And we all know how well old girlfriends work out.

In other words, get you a whiff of this crypto run.

Seems like SOXL may be revisiting $90 sooner than later.

Sold a bunch at $111 and aiming to buy in lower.

Bitcoin hit $81,220!! It's SQUEEZING!!!

POWL be tempting again!

Edited - Doubled my position.

harge57 said:

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POWL be tempting again!

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If QQQ stays weak and goes red, it could go for ~697. It is still below the 50MA.

POWL will get pulled on the weakness. Just a heads up on that.

Up about 15% on CRML since the recommendation on here. What targets do y'all have after this little run up the last few days?

POWL chart looks like dog sheit if it slips from here, and I still think it has a better chance at falling to the 160s than doing anything else. When it gets to the 160s it's probably a buy looking for 200.

QXO - may have found a bottom here. Moving averages look like they're all ready to bottom.

I'm betting on Brad Jacobs

The last hour has been wonderful for CRML.

Does anyone have any thoughts on TOYO?

All stocks waiting for NVDA earnings. Will be lame action until then from what I can see.

SAag1113 said:

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All stocks waiting for NVDA earnings. Will be lame action until then from what I can see.

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Yep, always is

If the last couple earnings hasn't made NVDA go up, I'm not sure what they could do this time to sway the market positive

BucketofBalls99 said:

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SAag1113 said:

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All stocks waiting for NVDA earnings. Will be lame action until then from what I can see.

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Yep, always is

If the last couple earnings hasn't made NVDA go up, I'm not sure what they could do this time to sway the market positive

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Have Trump and Elon tweet "NVDA is a buy $$$ ." Then watch it fly to $250

I think its more about the price action beforehand on NVDA but my guess this time is a muted move at first followed by a big move over the next week and a half. And hopefully upwards.

flashplayer said:

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I think its more about the price action beforehand on NVDA but my guess this time is a muted move at first followed by a big move over the next week and a half. And hopefully upwards.

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Up would be surprise me. But I'm not ready to put money on down. Maybe Thursday.

BDJ_AG said:

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Does anyone have any thoughts on TOYO?

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Quick redneck chart from a phone. Good chance sees the lower SRS despite some pause here. Not much in the chart to me says buy….yet.

Just my 2 cents with a quick look anyway.

Edit: look left….way left on your platform.