Futures are off moderately following yesterday’s reversal, the 6th session in a row that ES failed to surpass its .886 Fib retracement.
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Tag: NVDA
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On the Brink
As we stated in yesterday’s update…
…the downside case would be damaged considerably if NVDA were to come out with stellar earnings and outlook that boosted ES back into the rising yellow channel.
NVDA’s stellar earnings and outlook did, in fact, boost NVDA back into its previously broken channel.
The resulting algo spasm, however, boosted ES back to but not into its own broken channel. It has stalled right there on the brink, leaving both bulls and bears scratching their heads.
continued for members… (more…)
