Matt, to be clear, it looks like the VIX top end standard 2.0  BB is 16.05, today. So if the VIX closes at 4:00pm under 16.05, one would buy the SPY after the close, anticipating an exit on the subsequent close (Monday)? Thanks in advance for the clarification and have a good weekend. 

Mnuchin is incredibly composed and determined. Had the opportunity to attend some of his cocktail parties in NYC before he took on the role of Treasury Secretary. His apartment was quite impressive (great art collection), and his wife (now divorced, I believe) was undeniably elegant stunner.

Matt/Steve, NVDA - is a double top in, or do you reckon the 5th wave over $1,000 is still in the cards? Thanks for your help  

what is the cause of these 25-35bp spikes in SPY/QQQ since 8:00am - (seeing on Interactive Brokers)?

Steve, what are the potential outcomes for NVDA intraday from here in your view? Much appreciated. 

Steve/Matt, It would be greatly appreciated if you would provide your updated perspective on PANW, either here, or in the newsletter.  Thanks much,

Steve, assuming NVDA doesn't screw up the conference call, what would the EW count suggest to you as next leg? Thank you 

NVDA - long Mar 15 730/800 Call spread and short $605 Puts in size + 3k shares :)

ARM - what is the appropriate level for a Fibonacci retracement starting point? 2/1 low - yesterday high? as of yesterday, long Feb 23 129/120 put spread. Retrace for asymptotic moves is 38%, correct? Thanks for the help

Matt, Would you please provide a couple near-term exit price targets on URA? thanks

The chart links are appreciated.   Thank you. 

…links to Dec 27th newsletter. 

Yes, thank you, Steve. 

Steve/Matt, SPY QQQ - If this is a Wave B, what Fibonacci  levels should one reasonably utilize, given the structure you observe thus far?  i.e. 50%, 61.8%, 76.4% or 85.4% of wave A? Thank you

Matt, what's the appropriate fib extension to use on NVDA for a intraday price target? 1.618 vs Dec18 high and Jan 3 low ($523.57)? thanks

Positives for semiconductors, and TSM, in particular:

“The corruption inside China’s Rocket Force and throughout the nation’s defense industrial base is so extensive that US officials now believe Xi is less likely to contemplate major military action in the coming years than would otherwise have been the case.” represents a material reduction of one of the major risk factors for semis.

https://www.bloomberg.com/news/articles/2024-01-06/us-intelligence-shows-flawed-china-missiles-led-xi-jinping-to-purge-military?sref=aqVfOg3J

Separately, NVDA has catalysts coming up with the reporting of some of their major customers: MSFT AMZN GOOGL

Rotation out of Mag7 into the 493... Steve's simple guide: QQQ & SPY 30 min 50-10 SMA

GS: Technicals on our radar. 

1) S&P Equalweight index (SPW) is the most over-bought it’s been since the Summer of 2020 - e.g. 14-day RSI = nearly 75 (vs the 14-day RSI for the big 7 = just ~55). 2) we are coming off a period of historic ‘easing’ – historic collapse in yields, historic rip in equities; note: GIR rates strategy makes that further Yield declines could be limited in the near-term. 3)     Dec + Jan are seasonally very weak months for the Momentum factor (worth keeping in mind given HF long portfolios have reached a near-record tilt toward Momentum as a factor. Sentiment continues to turn as the 4-week change in the AAII Bear Index was one of the largest drops we have seen in the last 20yrs (e.g. bearish sentiment in the market is at its lowest level since Jan of 2018). Source: GS Global Banking and Markets as of 12/4/23

IWM 61.8% retrace...Matt, don't you always say to expect a reaction at the 61.8% "Master Fib"?