Samwise Quick Reference Handbook
To streamline our daily blogs and conserve space, we’ve organized key resources into a convenient, collapsible dropdown menu below. A sort of Quick Reference Handbook if you will -- as our friends in aviation might call it. By clicking the menu below, you’ll have qu...
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Hey Sam, how high do you consider the probability of a consolidation period like we had at the start of the year? After the rally last year the markets basically consolidated for 2,5 months straight before finally going into the correction. Is that a rare occurrence?
We’re unlikely to see that here. That tends to happen a lot earlier in the rally and it occurs ahead of major sell-offs. Virtually every time we’ve seen that type of a consolidation, it has lead to a major sell-off and they’re usually spread out across time. They don’t happen in close concentration.
Why could this not be consolidation for a break out run where QQQ goes up to $600? Earnings have been good, there’s probably a rate cut coming up, seems like conditions are good for market to continue up.
I could be wrong but what I’ve been reading is that yes we could run to 600 but not much further.
NVDA showing some resilience to the recent QQQ drawdown again (whatever that even leads to; an eventual breakout run to $600 or the start of the correction).
@Sam, what’s your take on how the timing of NVDA earnings (= next week Wednesday) ties into everything timing-wise? I think you mentioned somewhere that a lot of perfection is priced in into NVDA at this point, which might lead to a negative impact of earnings if they disappoint even marginally? But what about the usual build-up up until earnings? Would NVDA weather a correction if it starts this week/early next week or is it still “QQQ breaks down = NVDA breaks down”?
Thanks in advance !
Gap down and QQQ feeling weak
Sam Nvidia keeps looks very strong. Nothing seems to move it lower. If earnings are good there may not be a pullback at all. Your thoughts on Nvidia & earnings?