Stock Market – Finding a Temporary Bottom?

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Nvidia (NVDA)

• Nvidia may continue to choppy price action from mid-2024 and today’s earning may amplify that.

• The weekly cycle composite, dominated by the 3.5Y cycle (2^nd chart below) suggests a down pressure until 2026.

Sentiment & Technical Analysis

• The CNN’s Fear & Greed Index is finally in Extreme Fear. It allows for a bounce, but it can get more extreme.

• I think I posted this chart several months ago, but it is a good time to revisit it and comment. There are a few observations.

• Notice how SPX hit precisely the Cup & Handle target at the most recent high. Remarkable!

• SPX broke the small green channel in December, a bearish development. Subsequently, the lower trendline of the green channel acted as resistance.

• This week, SPX is testing the lower trendline of the red price channel. Once this trendline is decisively broken, it will indicate the change of the intermediate trend to down.

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.

  • Yesterday, I posted these remarkable Golden Section relationships between significant DJI peaks.

  • Fibonacci magic at work?

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