Mohacsy's Safe Portfolio Member Forum

[jbsliverer]

Might as well just get out the old Ouija board while waiting for the 200 day and week to catch up to NVDA so it can drop below it, or not. lol

Corrections don't start until stocks, like $NVDA, or indexes, like $SPY or $QQQ, break their 200-day SMA. $NVDA is currently 70% ABOVE its 200-day SMA. It would take a 41% drop from today's close just to TOUCH the 200-day SMA, which would just be a pullback.

Bear Markets don't… https://t.co/dCoYs1MyKx pic.twitter.com/OmOaoSHj8w

— David Settle, CMT (@davidsettle42) July 2, 2024

Bear Markets don't start until you break the 200-week SMA. $NVDA is currently 276% ABOVE its 200-week SMA. It would take a 73% drop from today's close just to TOUCH the 200-day SMA, which would still just be a correction.

.