STOCK MARKET BEARS SAY AI RALLY IS OVER, CRITICAL POWELL SPEECH
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Bears Take A Stand
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart is a monthly chart to give you a long term perspective.
- The chart shows the key resistance line.
- The chart shows that the relentless rise in the stock market this year is being punctuated in August.
- For the bull case, the extent of the ‘sell the news’ reaction to Nvidia’s (NVDA) extraordinary earnings blowout is troubling. The sell the news reaction is common, but the extent of the selloff on great news is not common.
August 25, 2023