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S&P and NASDAQ Rally Back to All Time Highs

The stock market has experienced a strong rebound since the flash crash that occurred 2 weeks ago. The S&P and NASDAQ are now trading near all time highs again. SPY has resistance around $559 and QQQ has resistance around $495. One of the important events to monitor is NVDA’s upcoming August 28 earnings announcement. I think NVDA could fail to meet earnings expectations, and I am comfortable looking for shorts around that earnings date. We are approaching a seasonally bearish month in September with a risk of market crash after the Sept. 18 Fed pivot.

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