Market Updates
Positions Report – June 2024
We are trending up into the $1050 - $1315 target zone for Nvidia that we identified in our April report. The developing pattern is 5 waves, which means that we now have a fully formed 5 wave pattern into the target zone. This should set us up for some type of a reversal. When we put NVDA in linear scale, it appears that we are completing a large degree 3rd wave, which could keep extending. The coming 4th wave would retrace the prior swing, before bottoming and starting a new large degree 5th wave higher. The targets for this 3rd wave are in the $1200 - $1300 range. A breakdown below $1035 will signal that we are in this correction, which we would use to setup buy targets.
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