Stocks Recover From Nvidia Earnings

In a shocking twist after the already surprising drop yesterday, SPY recovered completely but still rejected 562. Likewise, NVDA was up premarket but sold off to retest 116 support, closing slightly above it. QQQ followed a similar pattern but didn’t quite reach lows after yesterday’s after-hours.

SPY is still maintaining its rising wedge pattern. As long as price remains supported, all-time highs are still on the table. I’ll continue adding short positions and any rally from here is an opportunity for a better price.

BOJ fears at the beginning of the month already showed how fragile this market is, and the VIX remains elevated from recent lows. I will continue systematic accumulation despite any new headlines that come out into the election.