NVDA hit 100.01 in the after-hours last night when the Nasdaq 100 tanked on MSFT earnings. It seemed to be a massive liquidity buy signal as the Nasdaq futures rallied today over 3% today. Most of it was overnight. The 24-hour chart shows a nice trend. The day session chart shows a choppy sideways pattern.
We may be entering into another time period where the bulls work to push their agenda in the overnight session after this recent pullback (similar to November 2023). It is easier to push the agenda during the lighter liquidity in the pre and post market as well as after hours. The price action wasn't a Key Reversal on the daily chart but seems to effectively generate a potential Key Reversal psychologically. It could also be a massive countertrend rally for a new downtrend. We are setup to trade longs and shorts and enter live trading again tomorrow.
We did not trade live as the FOMC Trader took a long signal and the Nasdaq was already up 500 points. The FOMC Trader strategy was down -$1,000.
The big point gain in the Nasdaq 100 would seem to make this a great day to trade. The gains were steady overnight but once the day session began, the stock indexes started with a huge gap up, and the day session trade was very choppy. We don't trade on FOMC. The Portfolios would have been down today if we had traded.
(Recommend not trading on FOMC Day)
The hypothetical Portfolios results were:
Stock Index Portfolio 18 = -$470
One Million MNS 130 = -$9767.50
250K Portfolio = -$1,953.50
No live trades today.
Gold was the highlight with long trades in Asia Gold IV hitting is profit target and Gap Continuation 2020 GC capturing gains as well.
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