October 16, 2024

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Stock Market Direction

Please click here for a chart of Nvidia stock (NVDA).

Note the following:

• The Morning Capsule is about the big picture, not an individual stock.  The chart of NVDA stock is being used to illustrate the point.
• The chart shows that after a strong rally NVDA stock entered the resistance zone.
• The rally was triggered by Jensen Huang’s comment that the demand for Blackwell was insane.
• The chart shows that NVDA was not able to penetrate the resistance zone.