Bearish Momentum Builds: SPX Weak at Lower Band, NVDA Targets Volume Support

SmartReversals
02-15 07:52

Volatility is picking up as downside momentum builds across major indices.

With the VIX back above 20 and key leaders breaking short-term support, the current bearish move may not be over yet.

$S&P 500(.SPX)$ : Indecision at the lower Bollinger band, the 20 daily moving average curling down shows the shift in momentum.

The bearish move doesn't seem complete considering the widening band and the $Cboe Volatility Index(VIX)$ above 20.

$NVIDIA(NVDA)$ Losing the 20DMA with high-conviction suggests bearish continuation.

Lately, bearish stochastic crossovers have preceded declines until prices become oversold, which isn't the case yet.

Potential target: the lower edge of the volume profile to reach oversold conditions.

For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.

🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now

Find out more here.

Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.

Click to access the activity

Other helpful links:

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（1）

  • Top
  • Latest
  • 闪电侠08
    ·02-15 20:00
    Okkkk
    Reply
    Report