This Is Not Investment Advice
NVDA
NVDA Weekly
What I can’t possibly ignore here is that the Weekly Money Flow is Red, has been for a while, and is pretty emphatically Red. It also rolled over in August which now more clearly appears to be some type of a pivot for Risk On possibly.
I’m not ever buying this. More than the entire Universe has already been baked into this cake. It is very important, in fact too important, for the Nasdaq overall though. Worth noting it is so big and liquid that it is a great fit for institutions to trade and own. An equity index all on its own.
TSLA
TSLA Weekly
Struggling to set new highs and the Weekly Money Flow is close to flipping to Red. Unless something zooms this higher very soon it is not crazy to think it breaks that support and Money Flow flips Red on the Weekly.
PLTR
PLTR Weekly
Last time the Money Flow on the Weekly opened up wide Red (like it just started to do now) PLTR went from $120 down to $70.
HOOD
HOOD Weekly
Acc/Dis rated D but overall Price/Volume not that bad tells me it is almost all Retail. Another one sitting on the edge of support. Perhaps HOOD is a tell for overall Retail enthusiasm and if it will stick it out through any potential corrections.
Thoughts and observations:
Upfront let me emphasize that ALL of these stocks could go higher and higher by a lot and maybe that even starts Sunday night and Monday morning . . . . . I do not make predictions . . . . . merely showing that these stocks are far from invincible and are also NOT that far from sliding into major trouble in terms of Price/Volume and Accumulation/Distribution . . .
Mathematically and literally . . . . the Nasdaq, ‘Melt Up’, and Risk On need these stocks and these types of stocks to maintain an overall bullish market structure . . . . stock like EOSE can have major trouble (regardless of how well the business is doing) if these huge stocks are holding back the major indices and overall sentiment . . .
These do not represent Leading Stocks though some have and are in the IBD 50 but rather the “leading” stocks in the minds of in particular Retail investors . . . . been a while since Retail has had to see a lot of Red on the screen and these are on edge . . . . another worthwhile factor to monitor . . . .
