NVIDIA fell hard at the open on the Jensen Huang news, then buyers stepped right in at the Snowline at $150. I walk through the NVDA levels I’m watching from here, plus the SPX range that decides whether this bounce keeps building.
SPY undercut the Leo Low at $750 and trapped the bears, and that pattern often runs back to $780. QQQ trapped both sides in the same move. Now everyone has trailed their stops up, and how those stops behave on the first pullback tells us everything.
The S&P 500 finally broke its $7,600 to $7,800 range, and it broke to the downside. I walk through my line in the sand at $7,300, a cheap broken wing butterfly back toward $7,715, and why I’m keeping my risk small in case this turns into another 2022. I also cover a pullback buy in Exxon Mobil with a tight stop.
The Dow is trading right where it was in early July, but there’s a squeeze in play and a fresh reversal signal. I break down why Goldman Sachs matters most inside the index, what its seasonal chart says about November, and the $1,000 call trade I’m looking at. Microsoft is holding its rising 21 EMA too.
