HOLO shorts keep driving the price down lower

PDD forming a strong rebound after a steep post earnings selloff. I like this opportunity a lot, despite being a Chinese stock PDD has performed very well this year and is at a steep discount from the selloff.

SNOW is rebounding after a sluggish week. The seasonality is very strong this week but the performance hasn’t been impressive so far. This poor performance is likely caused by concerns surrounding NVDA earnings

NVDA beat earnings expectations but still sold off. I think options traders got wrecked on both sides. NVDA has been recovering nicely overnight and has pretty much remained flat despite the volatility

A lot of traders rushed into SQQQ shorts. There was a nice spike up, but I think SQQQ trends back down for now

QQQ is trending up, we have alternating days of green and red candles. Based on this trend we are likely to see a green day today.

Sept 6 will be the next key date to monitor for that August jobs data. Sahm’s rule and rising yield curve are signaling a recession but the market is still strong for now.

If NVDA underperformed in yesterday’s earnings announcement the market would have tanked. That didn’t happen and the hype is still here for now. I think a bad jobs report on Sept 6 could tank the market with panic selling from recession concerns so that will be important to prepare for next.

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