🍔Selloff Deepens On Nvidia Earnings

Price action portends more selling to come

This was one of the most volatile weeks we’ve seen in a while.

Nvidia’s earnings were brilliant as expected, but the stock price action was shocking. This is not the kind of stuff you want to see in a healthy rally.

When the facts change, we change our minds. We’ve been bullish the last several weeks but the price action has not supported our view. Hence we made a portfolio change to mitigate risk.

That’s why objective, data-driven analysis, and strict stop-out parameters are crucial in markets.

If you’re still holding S&P500 ETFs hoping for a rebound, you might want to continue reading…

The rest of this article is for premium members. Today’s post covers:

• Mixed economic data

• Will the Fed cut rates in December?

• Nvidia earnings good; stock reaction bad

• Consumer spending is stalling

• Crypto meltdown and what it means for equities

• Technical breakdown

• Recent portfolio changes