CHART OF THE DAY: Nailing Both Sides of the $NVDA Trade

09/12/24 07:51AM EDT

Below is our "Chart of the Day" and a brief excerpt from today's Early Look written by our Risk-Manager-In-Chief Keith McCullough.

My #VASP (Volatility Adjusted Signaling Process) nailed the turn from all-time highs right as #Quad4 started hitting the US economy in July.

A) NVDA’s initial #Quad4 Crash took it from an ATH (all-time) high to -27% in early AUG
B) Part Deux of NVDA’s Drawdown crashed it another -21% from AUG 19 to SEP 6

What does the NVDA Signal say now?

  1. It’s still signaling lower-highs vs. its ATH ($135) with the TRR (top-end of my Risk Range™ Signal = $122
  2. It’s still below @Hedgeye TRADE Resistance = $124
  3. It’s still below @Hedeye TREND Resistance = $118

CHART OF THE DAY: Nailing Both Sides of the $NVDA Trade - chert

If you're tired of MSM/CNBC narratives and BS financial research, we encourage you to take a closer look at the Early Look. You can thank us later.

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