A sharp reversal wiped out the ecstatic momentum from the open, bringing worrying signs back into the markets.
Traders are starting to fade Nvidia’s earnings reaction after Nasdaq hits the top of the Daily Pivot zone highlighted in our Morning in-depth analysis.
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A sharp reversal wiped out the ecstatic momentum from the open, bringing worrying signs back into the markets.
Traders are starting to fade Nvidia’s earnings reaction after Nasdaq hits the top of the Daily Pivot zone highlighted in our Morning in-depth analysis.
Most Read: Nasdaq rebounds: Nvidia (NVDA) earnings beat ends AI winter fears
With no major headlines driving the shift, the market seems increasingly concerned about renewed hawkish repricing from the Fed.
Now the question is whether rangebound action takes over or if new highs or lows trigger further sharp continuation.
Confusion is definitely in the air.
Here’s a look at a few US index intraday charts — not a pretty picture right now.
What a reversal!
Nasdaq 1H Chart
Dow Jones 1H Chart
Safe Trades!
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