08/28/2024 Live Update

[Cobra]

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Maybe it's an ascending triangle in the making?

[Cobra]

Members only update at 10:01 am
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[JFR]

ES daily.

Day 8 in this trading range.

Inside candle.

Needs a breakout.

[JFR]

ES 60 minutes.

On the hourly, a lot of chop.

Battle between the heavyweights.

Testing down beneath S1.

[JFR]

ES 5 minutes.

The support at S1 is being tested.

Strong move down in the last half hour.

The bears are putting up a helluva fight.

Surprising that the top from July 16 has not been reached yet.

[Cobra]

This bear shall have legs.

[Cobra]

Members only update at 12:00 pm
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[Cobra]

EMA20 here is the bear's last chance to make another leg down. Typically by now the low was in though, typically.

[Trades w 2 Cats]

The larger picture looks like we are coiling waiting for the main event tonight.

[Trades w 2 Cats]

Looks like everybody has gone to lunch, You know the big guys have to stay at the trading desk until after NVIDIA presser, so long lunch!

[te_fern]

What time are NVIDIA's earnings released?

[Cobra]

Maybe a rebound here first then we'll see, probably the rebound would be sold.

[Trades w 2 Cats]

Nvidia reports after the bell today.

Unless earnings are amazing they are in trouble because of SMI, Super Micro Computer. Orca Fin (https://orcafin.substack.com/p/smci-an-intriguing-story) and now another major short seller have released detail accounts of possible accounting fraud. Bigger problem is the announce they can't file their 10K because their internal reporting controls are no good and they don't have new ones in place. Oh, and a new accounting firm this year doing the audit.Super Micro is Nvidas third largest customer. They have to sell more stock this year to keep going so the around 35% drop in one day says they are blowing up. So much for Nvidia guidance tonight.

[Cobra]

Members only update at 3:35 pm
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[Cobra]

50% chances of double top here.

[Cobra]

Members only update at 3:52 pm
http://www.cobrasmarketview.com/2024/08 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449387

[Trades w 2 Cats]

Nvidia expected at 16:20 Eastern

EXPECTATIONS: The consensus expects Nvidia to report Q2 EPS of 0.64 per share, on revenues of USD 28.48bln. The tech giant is expected to guide Q3 EPS at 0.70 and Q3 revenue at 31.41bln. For the full year, Nvidia is expected to guide EPS around 2.71, and revenue of USD 120.2bln. By segment: Q2 automotive revenues are expected at USD 345mln, Q3 at USD 363mln, and FY at USD 1.42bln; data centre revenues are expected at USD 24.97bln in Q2, USD 27.54bln in Q3, and USD 105.47bln for the FY; gaming sales are seen at USD 2.78bln in Q2, USD 2.9bln in Q3, and USD 11.45bln for the FY. - Source: CT News