NVIDIA is the Market & the Market is NVDA
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Show Notes
Summary of the day
A lot may have happened, but I was focused on not over trading today. No trades, just raising my stops. I was literally watching $NVDA, Breadth, and the 10 yr all day. The market right now is a light switch. NVDA is the lever that is moving all boats. It is in essence the entire tide. All the hopes and dreams of the market.
Whether you look at NVDA against its top Semi conductor peers or the Mag 5 (minus aapl and tsla), you can see that NVDA is in the bull market driver seat.
Breadth
615 new highs
98 new lows
52% advancing 44% declining
32% below 50 day ma
35% below the 200 day ma
Stuck out
Tech leads down due to Intel and Semi sector
Strong
Bitcoin bounced
Airbnb up 5.28%
HOV up 4.89%
Weak
Intel finished down 11.91%
What to watch
Earnings next week
Wed Jan 31 Fed rate decision
Watch mag 7
Watch yields
Economic data
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