It’s An Nvidia World:
“And we are all just living in it.” The stock this week has really separated itself from its peers. This week alone it has jumped nearly 9%, and is looking for its first WEEKLY CLOSE above the very round 600 number (weeks ending 2/12-26 were all above 600 intraweek but were unable to CLOSE above the figure). Amazingly the weeks ending 3/12-26 all CLOSED extremely taut within just .67 of each other, and we know moves breaking from that type of coiling action are often powerful. Contrast NVDA’s big move this week with that of rivals MU, AMD and INTC, which have all dropped by 3.3, 3.2 and 4.6% respectively so far. If has often been compared mostly to AMD, and there may have been some foreshadowing of the big bifurcation that was to occur last Friday when AMD was unable to climb above its downward sloping 50 day SMA, and NVDA CLOSED up nearly 1%, and 9 handles off its intraday low.