NVDA Pulls The Indices Higher

NVDA earnings and revenues were stellar. That led to a surge in price, and being a heavy weighted stock, brought the rest of the market with it. However, after today’s trading, there are intermarket divergences and internal divergences. While one or a few highly weighted stocks can drag a market higher, it is not sustainable, if the majority of stocks do not begin to follow. Breadth is tepid suggesting the majority are not following and volume, once again, continues to fall. The Briefing outlines important support levels, should we see a rotation lower next week.

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