SPY and NVDA Briefing for Thursday 7/13/ ...

SPY and NVDA Briefing for Thursday 7/13/23

Jul 13, 2023

Well folks, I truly did not see the breakout as a strong possibility this morning, but that's exactly what happened. The next target on SPY of mine is 450 if 444 holds the rest of this week. If SPY loses this level over the days ahead, I'll enter heavier on the short side for a false breakout - but for now, it looks like playing the trend is the move. I'm still holding SPXU and NVDA short as the daily chart shows bearish divergence and has been for some time. SPXU is a longer-term trade that I'm looking to take profit on sometime in the fall or potentially even later (i'll keep providing updates), while NVDA will likely be a quick profit play as it's more of a leverage position against technology. Hope y'all made some money today and I look forward to see what tomorrow brings us! image

image NVDA has decreasing MFI but steady/increasing price

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