News/Media Sucks Traders In Once Again
NVDA’s upbeat outlook has the stock jumping at the open, and it is the kind of move that can stir up quick emotions for anyone watching the market. Most of the early strength is centered around this one stock, while the broad indexes are simply bouncing into areas of known resistance.
From a technical standpoint, this type of move can either grow into a broader advance if participation expands, or it can fade as a short-term rally within a larger downtrend. The next few sessions will show whether this is meaningful strength or just a temporary reaction to news.
Respectfully,
Chris Vermeulen
Founder, The Technical Traders
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