Comments on: QQQ & NVDA Updates 4-19-24 https://rightsideofthechart.com/qqq-nvda-updates-4-19-24/ Stock Trading, Investing & Market Analysis Fri, 07 Jun 2024 18:38:19 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: rsotc https://rightsideofthechart.com/qqq-nvda-updates-4-19-24/#comment-31698 Mon, 22 Apr 2024 13:15:43 +0000 https://rightsideofthechart.com/?p=213946#comment-31698 In reply to KevinK.

On the contrary, IMO, as I’ve stated on numerous occasions in recent weeks as to why I was over-weighting (and the only indexes I was short) the Nasdaq 100 & Russell 2000 for exactly the reasons the $NDX vastly outperformed the SPX & DOW last week (over-concentration in the FKA Mag 7 that had clearly bearish charts.

In addition to a flurry of other recent “check marks” or sell signals for the stock market I was looking for (top 5 SPX sectors triggering my sell signals, several key stocks & sectors triggering the previously highlighted sell signals, etc..) the two most important sell signals I had been expecting: QQQ below 433 & NVDA below 840, both came last week.

It’s the most furthest thing in the world from mere coincidence that the tech & Mag 7 top-heavy NDX outperformed the more diversified & dividend + defensive stock heavy SPX and DOW.

So yes, of major importance since if one is going to be long (or short) “the stock market”, they should make an effort to be long (or short) the particular index or indexes that are poised to outperform the others.

]]> By: william9in https://rightsideofthechart.com/qqq-nvda-updates-4-19-24/#comment-31692 Sat, 20 Apr 2024 02:04:24 +0000 https://rightsideofthechart.com/?p=213946#comment-31692 My SPX chart.

]]> By: KevinK https://rightsideofthechart.com/qqq-nvda-updates-4-19-24/#comment-31691 Fri, 19 Apr 2024 23:50:59 +0000 https://rightsideofthechart.com/?p=213946#comment-31691 Nvidia went down 10% on Friday
SMCI went down 23%
They say SMCI went down on speculation it’s earnings might disappoint because it announced the date of it’s earnings report, but didn’t give preliminary results.
SMCI is scheduled to report earnings April 30.
Nvidia stock will probably move in conjunction with SMCI after those earnings….May 1.
May 1 is also when JP gives the next FED announcement on Fed funds rate.
May 1 should be an interesting day.

]]> By: KevinK https://rightsideofthechart.com/qqq-nvda-updates-4-19-24/#comment-31690 Fri, 19 Apr 2024 23:06:27 +0000 https://rightsideofthechart.com/?p=213946#comment-31690 Of absolutely no importance, but….
Nasdaq was down 5.5% this week
S&P was down 3%
and the DOW was up 3 points for the week

]]> By: Fgilani https://rightsideofthechart.com/qqq-nvda-updates-4-19-24/#comment-31689 Fri, 19 Apr 2024 20:28:22 +0000 https://rightsideofthechart.com/?p=213946#comment-31689 Can you please post updated targets for NQ for the future traders? Thanks!

]]> By: Mikeflegel https://rightsideofthechart.com/qqq-nvda-updates-4-19-24/#comment-31687 Fri, 19 Apr 2024 20:11:49 +0000 https://rightsideofthechart.com/?p=213946#comment-31687 In reply to rsotc.

Well wait a minute before you go home randy. None of us wanna be on board for a rip.Your face off rally upward. What to do no Nice job today.Put us in short right out of the gate. Great thanks for that.

]]> By: rsotc https://rightsideofthechart.com/qqq-nvda-updates-4-19-24/#comment-31686 Fri, 19 Apr 2024 19:44:52 +0000 https://rightsideofthechart.com/?p=213946#comment-31686 Getting too close to the close with no buyers stepping so most likely a trend day (where market moves lower all day to close on or near the lows). Back to swing shorts but lighter position to take home into the weekend.

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