112 replies to this topic

[dTraderB]

NVDA! Then Seasonally bearish SEPTEMBER!

"Wed - NVDA Earnings after the bell

Thu - 2nd GDP Estimate before the bell

Fri - PCE before the bell"

[dTraderB]

"Several breadth thrusts are likely to sustain the positive momentum
Key points:

The S&P 500 Financials triggered a breadth thrust signal while simultaneously closing at a high
Similar thrusts produced solid returns and consistency for Financials over the following year
The Nasdaq 100 generated a breadth thrust alert, with the index above its 200-day average
Comparable thrusts preceded an 88% win rate for the Nasdaq 100 over the subsequent year

https://mailchi.mp/c...sitive-momentum

[dTraderB]

"US rate cuts loom as BoJ warns of hikes
Key developments that could provide more direction to ASIAN markets on Monday:
Singapore Manufacturing (July)
Japan Leading Indicator (Revised) (June)

[dTraderB]

Es long 5642.75
Nq long 19729.25

[dTraderB]

Having made you all foam at the mouth this Sunday, I do want to caution that the setup on Nvidia going into the quarterly report is a little different this go around.

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While the Street is staying super bullish on Nvidia heading into the print, they are a touch cautious amid reported shipment delays for Nvidia's powerful new AI chip Blackwell.

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There is good reason for the bullishness based on a host of recent signals from earnings reports:

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Taiwan Semiconductor (TSM) just cited strong AI demand when it reported.

AMD (AMD) recently lifted its sales for data center chips for the third time in a year.

Super Micro Computer (SMCI) cited strong demand for its liquid cooling solutions.

Nvidia chip customer Meta (META) just raised its capital expenditures guidance for 2024 and 2025 by billions.

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For Nvidia's report to be embraced, I think investors need to see at least two things:

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Nvidia must convey that reported Blackwell shipment delays aren't a structural issue.

Nvidia must show strong quarter-over-quarter sales growth in its data center business.

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If this happens, it could shake off a few bears and set the table for what EMJ Capital founder and tech investor Eric Jackson told me on the Opening Bid podcast.

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"I'm saying [Nvidia's value] could double again between now and the end of the year," Jackson said.

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To put that in perspective, Jackson thinks Nvidia's market cap could hit $6 trillion by year-end from $3.2 trillion or so currently.

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Jackson reasons the company stands to get there by delivering a very, very strong earnings report this week or in November (or both) that shows off continuing demand for H100 and H200 chips while teeing up the potential of its new AI-focused Blackwell chips.

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Rest up. It's going to be a busy week ahead.

‌

Brian Sozzi, Executive Editor

[dTraderB]

Bullish poll 61-39!
Bulls 50% higher than Bears

Helene Meisler (@hmeisler) posted at 1:01 PM on Sat, Aug 24, 2024:

The results are in and once again folks lean bullish.
Thank you so much for voting while I am away.

https://t.co/eSJB6TvqgK
(https://x.com/hmeisl...3320168849?s=03)

[dTraderB]

Closed nq long 19835

Es long 5642.75
Nq long 19729.25

[dTraderB]

Closed es long 5660.25

Net long 1 each es, nq

Closed nq long 19835

Es long 5642.75
Nq long 19729.25

[dTraderB]

"Rate-cut hopes meet Mid-East risks
Key developments that should provide more direction to U.S. markets later on Monday:
German August Ifo index falls in August.
U.S. July durable goods due out.

[dTraderB]

Nq long 19769.5

Closed es long 5660.25

Net long 1 each es, nq

Closed nq long 19835

Es long 5642.75
Nq long 19729.25