Nvidia Corporation (NVDA) Elliott wave count from its major bottom made in October 2008 appears complete.
On 05/30/24 NVDA high was 1,158.19. Major Fibonacci resistance is at 1,157.70 almost a bullseye hit.
Daily MACD – Histogram has flattened out.
Stochastic has bearish lines cross.
None of the other “Magnificent Seven” stocks confirmed NVDA new high.
None of the three main U.S. stock indices made new all-time highs.
If NVDA has made a major top it could signal the beginning of a multi-month decline in U.S. stocks.
On 05/30/24 NVDA high was 1,158.19. Major Fibonacci resistance is at 1,157.70 almost a bullseye hit.
Daily MACD – Histogram has flattened out.
Stochastic has bearish lines cross.
None of the other “Magnificent Seven” stocks confirmed NVDA new high.
None of the three main U.S. stock indices made new all-time highs.
If NVDA has made a major top it could signal the beginning of a multi-month decline in U.S. stocks.
