$NVDA
Added 2025-05-01 09:23:56 +0000 UTCYesterday morning when the weak economic data came out, there was a lot of concerns, negative GDP growth for the Quarter is the first indication that the US is on the track to confirm a recession....but as the day progressed, the market recovered and finished green, after being down -2%.
It started off as Bidens Market but ended the day back as Trumps market when it went green and uplifting ER's came in, Capex maintained was the big winner from the ER's.
There is a lot of noise right now
But what hasn't changed is our charts.
$NVDA is up +4% in the PM now and has made a higher high and continues to move to our Wave B target at the 50 WMA at $124.
With Capex maintained by two of the biggest Mega Caps, $NVDA benefits from this, so the reaction is positive.
But we know, that as long as this tariff war continues, this will trigger a recession and I suspect it will be too late to reverse the second negative GDP growth for Q1....which will define a recession.
