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Yesterday’s low point in Nvidia (NVDA) marked the second instance of oversold conditions and today’s rebound indicates that the low is likely in. Worst case $110-$115 indicates the floor (range) on the stock.

With markets set to open significantly lower to start the week, a lot of trading opportunity are likely to emerge during the first few days of the trading week.

Waiting to see how the market handles its retest phase of the sell-off before adding to our positions. Today marks another transition session.

While the market is pulling back a bit as expected, we’re now starting to get a sense of where things are likely to bottom and the market is already setting up for another sharp rebound.

Markets continuing their pull-back off of overbought conditions. There are some gaps to fill and a fair degree of risk that the selling continues toward those gap lines.

There’s a possibility that we may be nearing the end of a segment. More likely, however, is the markets have merely reached overbought territory and are now pulling back slightly ahead of a second leg higher. Time-wise, we’re only 8-days into the first segment which should go for 12ish sessions.