NVDA Special

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News Buzz

• NVDA is starting to look a lot like the next AAPL.

• U.S. consumer confidence on the upswing in August, notching a 6-month high.

• After Federal Reserve Chair Jerome Powell struck a dovish tone in his eagerly awaited speech at the Jackson Hole Economic Policy Symposium on Friday, markets are increasingly confident that the Fed will cut rates steadily throughout the rest of 2024.

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NVDA - Cycles

• Everyone is wondering about NVDA’s earnings release today.

• I understand that in the last 3 quarters NVDA’s beats of expectations were decreasing. Will NVDA one day miss expectations?

• NVDA’s performance is important for SOX and NDX, and to a lesser extent to SPX.

• The chart below shows the cycle composite Hurst Nominal 20D, 40D and 80D cycles.

• Base on these cycles NVDA should drop into September.

• Can a positive earning report cause a pop on price against these cycle projections?

• Yes, that is possible and often happens, but it is typically a one- or two-day affair and the price continues to follow the cycles.

• However, in some instances a fundamental news can affect cycles such that some of them may change amplitude and/or period, but usually over time these attributes return to their stable values.

• The chart below shows the daily cycle composite of NVDA, comprising all relevant cycles from the daily chart.

Follow BraVoCycles on X

• Consider following me on X (former Twitter) in addition to the newsletter, as I often post valuable information there in real time between the newsletters. You are missing a lot if you read the free newsletter and do not follow me on X. The free newsletter and my X channel go like “a hand in glove.” Yesterday, I reposted the Buffet’s Indicator chart, which is even more relevant now.

  • Yesterday, I posted the chart below showing that the household equity allocation is now like the levels seen before 1970s and 2000 bear markets. 

Market Summary

As of close on 27 August 2024

What Has Been

• The US market continues to digest Jackson Hole news.

• The S&P 500® index (SPX) rose 8.96 points (0.16%) to 5,625.80. 

• The Dow Jones Industrial Average® ($DJI) rose 9.98 (0.02%) to 41,250.50. 

• The Nasdaq Composite® ($COMP) added 29.05 points (0.16%) to 17,754.82. 

• The 10-year Treasury note yield (TNX) increased nearly two basis points to 3.83%.

What’s Next

• Still same dilemmas as I said on Sunday.

• Need to see another card or two.

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