NVDA Surge Masks Market’s Mixed Signals

(a volatile market awaits)
 
   
     
   
 
FEB 26, 2024
   
GUY COHEN’S MARKET MOVERS
The Two Faces of This Market

Nvidia’s positive earnings last week caused another bullish surge, and everything seems to be going well on the face of it …

But as we assess the overall market structure and the quality of setups forming today, we observe a mixed bag with both bullish and bearish setups.

This indicates that further gyrations of heightened volatility (gaps in both directions) are likely until we receive a clearer signal that a broader pullback is imminent.

Here is this week’s watchlist:

 
 
 

Follow the money,

— Guy Cohen
 
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PROSPERITY PUB MARKET TALK
Keep Your Eye On The Big Picture
 

Over a year ago, Jeffry Turnmire called the Bitcoin bottom live on this December 22, 2022 episode of Ask The Pros.
 
 

Think about the amount of insight and confidence that took.

For context, Bitcoin had just spent more than a year shedding over 73% of its value:

 
 

Some people were actually predicting the end of Bitcoin. (to be fair, it seems someone is always predicting the end of Bitcoin)

But not Jeffry. As he always seems to do, he had targets drawn on his charts months in advance.

And as Bitcoin started steadily rising, he beat the drum.

By January, it was up over 30%.

And then from mid-February to March came the little 16% drop — and again the fear mongers came out in droves.

Looking back, it's barely a blip on the radar.

But for those prone to panic, it would have been easy to sell at 14% gains and walk away.

“A small gain is better than a loss,” they might have said.

But not Jeffry. He’s had his eye on the Bitcoin mega-cycle for a while now.

It goes something like this:

 
 

And today was further confirmation of that long term uptrend…

Have you seen Bitcoin over the past few hours?

 
 

And while it’s easy to step back and say “Yes, but…” and remain on the sidelines…

It’s these kind of spikes that have stair-stepped Bitcoin 223%+ higher since Jeffry called the bottom over a year ago.

There’s still plenty of room for it to run up to Jeffry’s expected six-figure valuation.

— The Prosperity Pub Team
   
 

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