NVDA Consolidation Period
As a disclaimer, I am long on SPY with 2 call options for the 600 strike on the December monthly, as well as less than 100 shares of NVDA, NVDY, NVDX, and NVDS.
I am expecting a spike in volatility
VIX going into the election. NVDA's technicals show a strong engulfing bullish candle up through the 50ma and the downtrend line and now it has stopped at the 200MA and the next downtrend line. I think we will see it return to the 50MA. consolidate, and then if Trump wins (no politics please, I just expect a Trump victory to be a boom for the crypto space which would in turn boost demand for NVDA products) I would then expect this to continue much higher. It has been finishing some unfinished auctions it left behind in it's last bull run.
IV rank has come down to bearish levels according to the VixFix model in ETH on H1.
This suggests a move down in the immediate short term.
I am expecting a spike in volatility
VIX going into the election. NVDA's technicals show a strong engulfing bullish candle up through the 50ma and the downtrend line and now it has stopped at the 200MA and the next downtrend line. I think we will see it return to the 50MA. consolidate, and then if Trump wins (no politics please, I just expect a Trump victory to be a boom for the crypto space which would in turn boost demand for NVDA products) I would then expect this to continue much higher. It has been finishing some unfinished auctions it left behind in it's last bull run.IV rank has come down to bearish levels according to the VixFix model in ETH on H1.
This suggests a move down in the immediate short term.
Nota
Appears that I was absolutely correct, though I did expect price to retest 133, I suppose we consolidated enough there.
Now to 141.
Aviso legal
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