ClearValue Team Insights
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Selloff for NVDA as SMCI Accused of Cooking Their Books
This week SMCI’s auditor resigned and accused SMCI of cooking their books. This could create a ripple effect for NVDA and the semiconductor sector. SMCI has been a large customer for NVDA, and this could raise some investor concerns about the finances behind some of these semiconductor stocks. NVDA was trading at all time highs, […]Read More
Selloff for QQQ
QQQ has started to selloff and has lost numerous support levels today. There is a break below the white zone and the yellow channel with a drop below $488.48 support. I think there could be some downside next week as we wait for the results of the US presidential election. Numerous stocks have also dropped […]Read More
QQQ Retesting the White Zone as Resistance
QQQ is surprisingly green today despite the worse than expected jobs report and jobs revisions. On a positive note the unemployment rate is still low, and Sahm’s rule has has become untriggered as the unemployment rate remains flat. I think jobs data will be important to monitor over the next few months because there are […]Read More
VIX Facing Resistance at $22
The VIX has shown bullish momentum over the past few days, but is trending for a red day today with resistance at $22. I would carefully monitor the $22 resistance level here to see if the VIX flips resistance into support. For now it’s looking like a rejection at this white trendline. I think the […]Read More
China’s Hang Seng Index Remains Neutral
Chinese stocks experienced a strong rally throughout the month of September, but have been quiet and neutral throughout October. The Hang Seng Index continues to trade below the $21.1k resistance level, and I think we can eventually see a move higher. For now $21.1k is a key resistance level that needs to break for HSI […]Read More
HOLO Rebounds and Holds Above Support
Yesterday HOLO raised some concerns with a sharp selloff below the yellow descending wedge pattern. Today HOLO has formed a bullish rebound and is holding above the $2.60 support level. I think HOLO needs to announce some news and give the stock a reason to go on a rally. The next few trading days will […]Read More
SOUN Struggling to Rally
SOUN has been trading sideways since April, and is struggling to rally to my $8.80 price target. I think small cap stocks in general are struggling in the higher interest rate environment. These small cap stocks could perform better over the next few quarters as the Fed continues to cut rates. SOUN has a tendency […]Read More
QQQ Facing Resistance in the White Zone
QQQ has formed a bearish retest of the white zone and bottom of the yellow channel. Since Oct. 9 both of these levels were acting as support. Now support has been lost and both levels are acting as areas of resistance. I think we are likely to see more neutral and bearish price action until […]Read More
VIX Trying to Flip $22.11 Resistance Into Support
The VIX continues to trade near the white resistance level around $22.11. There have been numerous rejections at this price level throughout the year, but the VIX is trying to flip resistance into support here. I think we have a lot of big events this week with the US presidential election, more jobs data, a […]Read More
IWM Holds Above $220 Despite Consecutive Red Days
IWM has experienced 3 consecutive red days so far and is also red so far today. The price has been holding strong above $220 despite the sell pressure, and I think IWM is still looking strong here. $233.66 remains as the key target, there has just been a lot of delays before getting there. Follow […]Read More
QQQ Trading in a Tight Range
QQQ is experiencing some upside today, but remains neutral overall. There is support at the white trendline around $480 and resistance at the red trendline around $486.58. The price has been fluctuating between these two key levels over the past few days. QQQ will have to find a direction soon, I think the price is […]Read More
NVDA Spikes Above $120 Resistance
NVDA has rallied by 4% for the day, and is currently trading above a key yellow resistance level around $120.15. The price action could be tricky here, as NVDA traded above resistance last time before ultimately selling off. Tench Coxe recently sold NVDA shares, and he does a great job timing the tops. I think […]Read More