NVDA's new all-time high failed quickly; after six down days, at its 50-day near 222 with a low of 224.92, it may offer a small bounce/scalp long or a spot to cover shorts, but not a return to highs. If it cannot hold this level, the market and tech are in more trouble.

Nvidia. Nvidia probably the worst new all-time high I've seen of a key stock like that, you know. Nvidia basically um went to a new high like it was like, you know, I don't know, like it was being pulled.

Um, and then look how look how look how fast it failed. So 243 failed to hold. 236 was the prior pivot. that shouldn't have happened if it was going to be healthy and came in. So now the 50-day is right here.

So, you know, maybe it's worth a look here. So, this low is uh 224.92. Here is your 50-day. So, your 50-day is close to 222ish. You know, there could be a scalp this morning like a scalp broken bounce like where if you sold it into strength and you have no Nvidia on, you're like, "Hey, you know what?

One, two, three, four, five on six days down." This is what it is. six down days for Nvidia, you know, could be could be worth a spot just to look just for a trade. You're allowed to do trades.

Trade the trades are the best to do now. Like you don't want to stick around. You want to test a spot, maybe make some money and move on. You try and catch a second or third time there and and and you're you're in trouble.

So, we'll see if the 50-day holds. This low here is what this is 22109. So, I would think it's worth a look. If you if you're short, by the way, congratulations. I would I would look to cover a little bit into into this spot.

I would not be say same way you have like day count rules where you don't want to be buying on day four higher. You want to buy maybe day one add day two have a good position trim day three.

That's your day count rules. you know, if you got short into this extension or when it broke below the dogee low of 236, whatever that was, you know, this was this would probably be a spot where I would be covering some, you know, just me.

Own it, don't trade it. No. Well, you could own it. Listen, if you have Nvidia from two, three years ago, you're just fine. You're investing. You're not trading for a living. It's October 13th. if you bought Nvidia, you know, on on October 6th, you know, you're not having a good October.

Precursor the memories are becoming oversold bounce candidates. Yeah. So um precursor saying that maybe today you can get a broken bounce in the semis. I agree. I I think perhaps doesn't mean it's going back to highs.

A move from 243 down to the the 50-day. I I would think there is a small opportunity here. A small opportunity to hold this area. Small opportunity to cover some shorts and and potentially get long.

If if if memor if if if Nvidia can't hold this spot, you know, the market's in a lot more trouble and so is tech because this is the whole circular finance thing. They think Nvidia is holding up all of tech by reinvesting.

And anyway, I'm not going to talk about circular financing, but it's definitely a little scary. So, when Nvidia is not strong, you know, people start to, you know, raise a little capital and derisk a little bit.

It's one thing to not be like breaking out, but when like you're coming down six days in a row, people like, oo, what's going on here?