- The Opening Print
- Posts
- Nvidia, Tech Weighs on S&P 500
Nvidia, Tech Weighs on S&P 500
Can it bounce back today?
Follow @MrTopStep on Twitter and please share if you find our work valuable!
Every week, MrTopStep invites traders to an “Own the Close” contest where the closest guesstimate where the SPX will settle on Friday’s 4:00 cash close.
The winners get a free week's access to the MrTopStep Chat and trading tools. Enter your guess now!
Our View
It's never good for the markets when its main bellwether stock — in this case, NVDA — is down.
Was yesterday's chop just a refuel for a PPI/retail sales rip today? My guess is that it is. Yes, the ES and NQ did sell off late, but they recovered most of the MOC selling.
PitBull and I were talking recently. We said, one of these times when everyone gets too bulled up and complacent, there will be a giant rug pull.