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Pattern of Alternating Days Continue For NVDA, S&P, & NASDAQ

Written By: ChartChamp

August 28, 2024

We continue to see a pattern of alternating green and red daily candles headed into NVDA’s earnings announcement. Today is the big day, and NVDA will announce earnings after the market closes. There is a lot of FUD surrounding SMCI headed into NVDA’s earnings announcement. Within the first 30 minutes of the day NVDA is red, but I think we will see a lot of intraday volatility today. We’ll see if NVDA can beat expectations, and whether there is lower guidance for the next few quarters. I will provide another NVDA update after the earnings announcement, for now I think investors are patiently waiting to hear the results.

The S&P and NASDAQ are relatively flat headed into NVDA earnings. Both daily candles are red, but there is little movement in either direction. I don’t think we will see anything exciting until the NVDA earnings announcement.

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