[Belgrade Bobby]

NVDA: Nvidia Shares Wash Out Over $200 Billion in Terrible Day to Be a Chip Stock

·         Nvidia wipes out $200 billion.

·         Trump comments hurt chip stocks.

·         Little tech advances and big tech drops.

 

·         Nvidia  NVDA is turning into a rollercoaster stock getting notorious for outsize swings and whipsaw trading. The chip maker plunged 6.7% on Wednesday after jittery traders reeled out of the semiconductor sector on comments by Donald Trump who said that Taiwan — the world’s leading spot for chip manufacturing — should pay for its own defence. In addition, the Biden administration vowed to pursue new US export restrictions to China.

·         The stampede out of Nvidia erased more than $200 billion from its market cap, reminding investors just how dangerously volatile this beast of a public company is. Not long ago — at the end of June — Nvidia rattled markets with more than $500 billion washed out in a three-session stretch. Despite Wednesday’s slide showing how overstretched the rally is, shares of Nvidia are riding on nearly 150% in gains since the start of the year.

[GVI Forex 2]

EURUSD 4 HOUR CHART – TREND AT RISK

To confirm a high is in now and break the current uptrend, 1.0871 needs toi be firmly broken.

[GVI Forex 2]

It is time to revisit this article as today is a prime example of a liquidating market

What is a Liquidating Market and How to Trade It?

What is a Liquidating Market and How to Trade It?

[GVI Forex 2]

US 2000 (CFD)- Trump Trade Profit Taking?

Russell 2000 is down nearly 2%, which may be the result of some Trump Trade profit taking amid reports Biden may step down.

Note Amazing Trader   US2000  support at 2191 is so far holding

[GVI Forex 2]

Risk off =< USD up => EURUSD lagging but traded at 1.09 for the 6th day in a row.

Options profile 1
Market 0

Biggest loser is the JPY, 2nd is GBP

Post over 5 hours ago

July 18, 2024 at 1:09 pm#
michael Calif
PARTICIPANT

Euro futures have reversed to Short EURUSD :gtwo3

[SF Monedge]

Currency markets move in cycles.  At times conditions in the US session are with the grain.  Other times only counter cycle opportunities exist.  Of late it has been largely counter, with the in grain conditions arriving in Europe.  Don’t waste your time trying to get in at midnight.  Stick with your hours.

[GVI Forex 2]

Betting odds show a 64% chance of Biden dropping out of the race—up from about 33% at the start of Wednesday

I think odds will move even higher ahead of the weekend

How much if any will this impact the Trump Trade? At a minimum, it eases risk of a slam dunk.

[GVI Forex 2]

USDJPY 4 HOUR CHART – 2 Way Risk?

If the goal of the BoJ is to turn technicals against USDJPY it would NEED TO BREAK 155.11 (Thursday low 155.37).

In this regard, it has created a two-way risk but not fully turned technicals.

Now it needs to hold the trendline, which is just hovering overhead.

On the upside, 158.60-85 would likely be protected.

[GVI Forex 2]

Here is a question anyone interested in prop trading should be asking…

How Do I Know My Prop Trading Firm Will Stay in Business?

[SF Monedge]

Australian Dollar is nearing extension conditions on the sell side in multiple metrics so the next cycle is the buy side but it will be a contra-cycle.

[GVI Forex 2]

NAS100 DAILY CHART – Retracement

On this NAS100 chart, the key level is 19460 and a trendline just around it following the break below 20000 (and 18000 in the NASDAQ Index).

To suggest a greater retracement risk, this support and trendline would need to be broken,

[GVI Forex 2]

US500 Daily Chart – Retracement?

For this move off the record high to turn into moire than a retracement, the trendline (currently just below 5500) would have to be broken.

As you can see by this chart there are several layers of (red line) supports starting at ,5443.

[SF Monedge]

Canadian Dollar futures are reaching extension conditions on the sell side so the sell side of UsdCad is beginning to look appealing.

[GVI Forex 2]

EURUUSD 15 MINUTE CHART – WHY I LOVE THE ANAZING TRADER

LOok at this chart and how 1.0905 formed a double bottom.

You may have had this on your chart but The Amazing Trader consistently SHOWS OPPORTUNITIES FOR TRADES.

VISIT THE AMAZING TRADER OR CONTACT [email protected] FOR A TRADING CLUB DISCOUNT

[GVI Forex 2]

Now back to the market…

Stocks are down … risk off.. USD is catching a bid… BUT EURUSD is still above 1.09 I(last 1,0906)

[GVI Forex 2]

Let me explain why I look at how EURGBP trades if trading EURUSD, GBPUSD or both.

Depending on the overall spot trend in this currencies, when I see EURUSD selling and the cross moving down, I may assume the selling is related to EURGBP more than EUR vs the USD.

EURUSD last at 1.0916 and EURGBP at .8410 vs. earlier 1.0905 and .8404 lows.

Go to the Trading Club if you want me to elaborate.

[GVI Forex 2]

US stocks taking a hit…

[GVI Forex 2]

EURUSD 1.0911

Needs to get through 1.0912 to put 1.0918-20 in play.

Note fresh bout of EURGBP selling is causing a EURUSD lag so keep an eye on this cross.

[GVI Forex 2]

Chatter is that pressure on Biden to drop out of the race could see him to decide to do so this weekend.

[SF Monedge]

I like the buy side of Euro around 1.09.  Futures 0920-30 zone is intact.  Was clear to me some major entities were just playing games the other day and caused a lot of coffee and head shaking among the little people who’s stops were run.  Based on what?  Widespread inconsistencies in metrics such as futures, options, forwards, neural-networks, visual recognition of some whale orders which were not hedges but rather stop runs which were actually profit taking that did not damage overall allocations, etc.  Banks and the like have been in way before yesterday.

[GVI Forex 2]

MIchael, thanks for the alert.

See if EURUSD 1.09 will print, so far pausing above it…. earlier selling came frome eurgbp selling, and that order seems to have steadied so will see.

[SF Monedge]

I like UsdCad buy side from the 3670/or below zone for now.  Emotional price activity in oil has stabilized somewhat it appears.

[michael Calif]

Euro futures have reversed to Short EURUSD    :gtwo3

[SF Monedge]

Today my preference has shifted to the buy side of Sterling and I don’t see selling follow through in US stocks from yesterday of much consequence and am eyeing the buy side for now.

Purely for reference:  7/16 – I will be out of the office tomorrow so just a quick note.  I do not see Sterling doing much over 1.300 and will be favoring the sell side, which is an addition to the sell side positions just established very lightly to start.  Since I am can be active in options, futures, or spot if I am making such notes it does not mean I am allocating to spot but just noting the price relation.

 

[GVI Forex 2]

US bond yields not reacting to jump in jobless claims.

USD not reacting as well.

[Mtl JP]

players might re-price the “trump trade”

betting savouring degenerates that they are

[GVI Forex 2]

Democrat leaders seem to be circling the wagons around Biden and donors are pulling back pushing him io step down. Logic says it is only a mnatter of time but we could have said that months ago.

Question is how will markets react to Biden stepping down. Much will depend on who replaces him and how that impacts the polls.

[Mtl JP]

Th july 18th FED yak deck
–
13:45 – logan
18:00 – daly
19:45 – bowman

[Mtl JP]

US jobless claims on the uP-side

[Mtl JP]

EURO 1.0934

me short

[Author]

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