GS weekly - looks like a bull flag continuation breakout

regarding your NVDA it looks okay, but refer to my big post on the possible scenario for the SPX, if that were to unfold, then I don't see how NVDA would not make a lower high

Here's the scenario I discussed in Thursday's newsletter but I didn't market it up. Because of the daily symmetry break there is higher odds now of a lower high forming. Under this scenario the move down could be wave A, and we are unfolding in an abc bounce to complete wave B lower high (supported by the symmetry break) and once that's complete a move down for wave C. If you recall, we've been showing such a scenario on the weekly QQQ's, see the last chart

Wave B's often retrace 50% to 61.8%, however they can retrace more than that and with the market one thing Steve and I have noticed is that moves are more exaggerated these days.  A move down could take the SPX back to that long term support and demand zone

$SPX - Chart Link shows the scenario on the daily SPX

SPY - Chart Link same scenario but on the SPY

$SPX - Chart Link weekly chart, if the wave count is correct, basically once this wave B is over, you get a move down to those major support zones

$SPX - Chart Link - this daily chart is interesting, that broken trendline is another area that could be retested if the SPX did a larger retracement than a 61.8% fib - perhaps retest that trendline

QQQ - Chart Link - here's that weekly QQQ's chart that we've been showing since last fall - this basically shows the same scenario

I went long NVDA, too, after META, GOOGL and MSFT all raised capex on AI. Closed above 20, 50, 200 daily SMAs, 5 & 9 daily EMAs, and approaching 61.8% ($890.75) retrace of $756.06-$974 low/high. Notable that KISS didn't go long (unless not yet updated). Matt/Steve , your opinion on NVDA would be greatly appreciated. Thanks much,

where you at cousin

Have a great weekend guys, I closed on a $65000 PV and whole house battery backup project, design and takeoffs today, start tomorrow.

Boring days are fine when I’m in Hawaii, but I didn’t find my 3% gain today to be boring.

Late to the party, but watching the Yen, Steve, is that an leading diagonal, and if so, what makes it so, and what would have negated it. 

I posit that the global community is punishing Japan for not pursuing "their" economic policy, but I am a conspiracy theorist (3 weeks short of conspiracy fact)

Its hard to imagine that any retail is doing stelllar???   Am I missing something??

MSFT had a pretty weak close itself. Interesting

SAme!  Thanks guys!!

from me as well, man was a boring day!

enjoy the rest of your Friday and have a good weekend!

Wishing everyone a nice weekend 

Boy AAPL has an UGLY candle today. 

Hopefully Novo/Lilly circling the waters

Has had a nice move EdZ

Might just get a buy on ANF too, defying the bears.

Anticipating an NVDA buy on the STS today. Well, I  bought back in anyway.

SPY - Chart Link

SPY - Chart Link