Chips Are Ripping As Nasdaq Cracks Resistance – Here’s The Tripwire To Watch
By Todd Gordon
May 25th, 2023
We just saw a historic earnings report from Nvidia that caught Wall St flat footed by a 50% margin on revenues for the current quarter. NVDA broke to new highs on the explosion of A.I. adding market cap equivalent to almost Intel and AMD combined. What does this move mean for the rest of the semiconductors and the broader averages? I uncover my personal holdings in the semis, as well as the holdings in my wealth management portfolio. Before we get too giddy here, there is however a major tripwire that we have to be aware of that COULD derail this rally. It’s a macro market driven by the ridiculousness happening in Washington over the debt ceiling that you need to be aware of.
Founder and Lead Analyst of Trading Analysis
Todd has been trading as a career for the last 20+ years. His goal is to not only provide insightful analysis, but to teach people how to think and grow as professional traders. Todd is a practitioner of Elliott Wave Theory and he uses it to gain an edge in the highly competitive trading arena. In addition to trading professionally, Todd has worked as an analyst and researcher at two different hedge funds. Click Here To Learn More about Todd Gordon