Nvidia Stock SELLING OFF Before Earnings!

all right guys so we're a couple hours out from nvidia's earnings and the entire stock market is selling off right now and so is Nvidia stock you guys can see here on the intraday chart we opened up at $128 per share got down to about $122 per share so we did dump off around let's see 42% to start the day but now we're starting to pop we're seeing a vshape recovery here heading into the second half of the day well I guess we're already in the second half of the day and the entire stock market like I said is in the red the Russell's down half a percent nasdaq's down 1% S&P is down half a percent as well and the Dow's down3 with the vix up over 7 and a half% so we're going to break down nvidia's chart here as again we're heading into earnings in about 3 4 hours here and we're going to go over what I just did what I'm looking to do Post earnings and just in general how the markets are looking as you guys know Nvidia will definitely influence the market after the bell with it being the last of the multi-trillion dollar companies reporting earnings and with it being probably the most important company/ stock in the stock market as it has been the driver of this bull market The Narrative has been Ai and well Nvidia is at the front of that so we're going to break down again a bunch so hit the like button make sure to subscribe and you might as well get your free stocks from Mumu almost forgot about that guys up to 20 stocks with at least a $100 deposit and your uninvested cash will earn up to 8.1% right now guys which is nuts until the FED Cuts rates by the way which is coming very soon here so again use that link or go to staser fest.com /mu I appreciate all your support as always guys as that is an affiliate link you guys are awesome so let's take a look here again Nvidia sold off a good chunk in the beginning of the day but buyers are coming in which I'm not surprised right I didn't buy the dip here personally today but I did add more shares yesterday which I guess on those shares I added yesterday I am slightly down which it's not a not a big deal it's actually a long-term position for me so I don't I don't really care what happens in the short term here because post earnings and in the quarters after that I think we're going um a lot higher and obviously the years after that I think Nvidia is going higher so now we're starting to Roar back in other words right we're popping back to the mid 12s and like I covered in my video yesterday according to the options Market there's a lot lot showing that there could be a big move coming post earnings and this is honestly this is a great setup right we're getting all the weak hands out of the stock we're shaking out the week hands before earnings uh which is actually pretty good we got a bit oversold here down to 122 so if they Crush which I think they'll do uh guidance is strong this selloff uh could end up setting us up like a launching pad post earnings um if it's a lot better than expected uh because again we're pretty oversold here so we could get that massive uh snap back up right and in the short term we are noticing $130 to $132 has been a sticking point you guys know that we've covered that before here on the channel time and time again right and this has been a sticking point for the last couple of days we can see here for the last week week and a half pretty much if I pull the 10day chart you guys can see it yeah pretty much the last 10 calendar days here since the 19th of August we've been trading horizontally here if I get the channel tool out and show you guys what's going on you'll see boom you notice resistance at 132 support at about 122 uh so we've been trading in this $10 window and I'm thinking of breakouts coming whether it's today whether it's tomorrow I'm looking to see if 130 to 132 breaks again if that takes out or if we take that out uh if I could talk proper English or speak proper English today guys um if we take that out next Target is 137 which we've covered before and of course after that $141 per share which is the alltime high on this stock and I covered this in my video yesterday um again going back to that options data and I think in that article we read yesterday wasn't there like a 7% chance that Nvidia goes up 20% after the bell for whatever that's worth I mean it's not guaranteed obviously I'm not banking on that it probably won't happen for that matter uh but that's pretty interesting a lot of Traders are banking on a huge move to the upside and going back to the 20-day chart you guys can see here we are consolid dating and actually popping over right above the 180 moving average on the 1H hour chart here which is good news now all we have to do is wait for the confirmation for the breakout at least that's what I would do if I was trading this but again it's a long-term play for me I'm not necessarily getting in and out but if we do pop Above This 130 that would be the sign to go long if you're um you know trading this thing but who knows with earnings coming up you might not have time to catch it unless you have a limit order whatever it may be but if you're trying to trade this thing before earnings guys if you want to buy this dip up now's pretty much your chance if you want to gamble on earnings if you want to you know do that now is your chance before earnings actually come out if you wait till after the Bell it might be too late it might be too late it probably will be uh considering once those numbers drop the algorithms go nuts the trading bot whatever the heck you want to call them they're programmed to buy sell do this do that based on uh you know the different algorithms whether Nvidia beats uh you know misses you know their programm to do whatever so you won't have enough time to get in after the Bell so that means again you have to do it now which I'm not advocating for I'm not telling you guys to do that uh but if you want to take that earnings risk now's your chance you have a couple more hours to do it and uh I'm not doing that per se like I said it's a long-term play for me but if I was feeling a little crazy that's what I would do I'd be buying up shortterm shares right now and arguably dumping them uh tomorrow maybe day after that on Friday we shall see how it plays out but it's interesting it's interesting the markets are selling off and this goes to to show how big Nvidia is right how important it is and Nvidia is down 2% some other tech stocks are down and boom markets are down but just like that in the snap of a finger drop of a dime um Nvidia could drag up the entire stock market in a couple of hours post earnings I'm very excited to see how it ends up playing out if I pull up spy which is the S&P 500 let me show you guys this we can see now we're actually selling down a bit towards support from last week last week we held uh 550 5 roughly we're pretty much right back in that ballpark uh we'll see if we do hold that point and again Nvidia beats if they do uh stock goes up spy is going to rip as well uh for sure and triple Q which tracks the NASDAQ 100 is in the same ballpark right in fact this is actually slipping under the lows from the last couple of days and from last week being about 475 that was support now we're at 471 so let's see if we retake this 47 75 level on Triple Q let me put my alert there right now Mark is at we're above $475 per share beautiful which again if Nvidia rips do not be surprised if triple Q retakes that level and starts going a lot higher uh from there maybe towards all-time highs not today or anytime this week in my opinion but over the next couple of weeks that could spark the rally uh to all-time highs again so what do you guys think are you in Nvidia as a long-term position are you buying short-term shares as well I'm kind of curious where your heads at let me know your thoughts in the comments down below and run the likes up make sure to subscribe here on YouTube and get up the 20 stocks for Mumu the clock's ticking guys use that link down below or go to St surf.com slmo and for a limited time until Jerome pal Cuts those rates your uninvested cash will earn up to 8.1% % apy guys that's a no-brainer so again use that link or go to ster.com momu and with that being said good luck today guys it's going to be a big one I'll see you in the next video where we'll actually break down the earnings I'll see you then peace out