➡️ Over the past eleven releases since ChatGPT launched, NVDA’s massive 10x rally hasn’t come from earnings-day pops:
Day-after and week-after moves have typically lagged, while the month before earnings has usually been the strong stretch. ➡️This quarter breaks that pattern, NVDA is flat heading into results, with recent earnings cycles showing weaker immediate reactions and stronger rallies later in the quarter. Source: The Market Ear, DB
$NVDA NVIDIA Data Center literally off the charts.
Source: App Economy Insights
Is this really sustainable? We will find out more later today
Source: Markets & Mayhem @Mayhem4Markets
Nvidia $NVDA in danger of closing below its 100-day moving average for the first time since May
Source: Barchart
Reserves are in deep "scarce" territory with reverses zero.
But reserves would go back to "ample" once $300BN in Treasury cash is drained in a few days. Source: zerohedge
Late November is historically a strong time of the year. Is this year going to be different?
Source: Ryan Detrick, CMT @RyanDetrick
IG tech spreads are wider than the broad index for the first time since 2012...
Source: zerohedge
Investors are holding one of the lowest proportions of cash in modern history:
November BofA global fund manager survey. "Cash levels of 3.7% or lower has occurred 20 times since 2002, & on every occasion stocks fell and Treasuries outperformed in the following 1-3 months:" BofA
