'Weaponized FOMO' has been a theme of market rally, Nvidia

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Nvidia Nouvelles

Steve Sosnick,Market Rally,Interactive Brokers

Shares of Nvidia (NVDA) are rebounding in Tuesday's session after a three-day sell-off. Interactive Brokers Chief Strategist Steve Sosnick joins Market...

"It's Nvidia's market and we're all just trading in it," Sosnick explains. He notes how Nvidia has been spearheading the tech sector's growth . While the tech sector's rally may spark concerns, he notes that its recent dip isn't a problem"because of end-of-the-quarter factors making it more of a rotation."

I mean, realistically, um it's been dragging us higher and, you know, you could see now we're in a bit of an interesting little cycle where, where the, the index, you know, if you look at, if you look at the major industries and I'll define them as S and P 500 NASDAQ 100 they move with NVIDIA and you know, yesterday, for example, they sold off not, you know, S and P not in a major way because the difference was the advancers on the nyse outpaced decliners 2 to 1 today.

These are, you know, so the argument will go our biggest, most innovative dynamic, disruptive companies out there, of course, they should be leading, they should be leading.

 

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