NVDA’s earnings can swing the needle to lower prices temporarily, but contingent on the indexes holding above the September 6 lows, we must still expect higher prices after that.Indeed, NVDA’s earnings did not crash the stock market, as it never closed below the outlined NAS18,650 level.
The bottom line is that the index has advanced to the minimal upside target for the third wave extension within an ending diagonal pattern. However, while the downside risk is thus currently increasing and appropriate actions should be taken, e.g., raise stops and take partial profits, until we see at least a break below NDX21200, we can still allow for higher prices.
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