$NVDA
Added 2024-09-06 09:38:15 +0000 UTCIt was this day last month that triggered the sell off in US securities as payroll figures came in which were a lot weaker than expected and the market had concerns of a heavier than expected recession.
There were also calls for an emergency Rate Cut to be announced, this never happened and the market recovered for the rest of the month of August
However, it has dipped substantially again since and the market is once again on a knife edge
I believe the FED will announce a rate cut, either .25% or .50% on the 17th or 18th of Sept.
The futures and PM opened very red today too, with possible concerns that the Payroll figures will trigger the same event as last month
Safe Havens again are doing their job with this reaction.
$NVDA is below its 0.618 Fib at $106, which means this pull back is showing weakness and a test of $100 is likely next if the price can not get back above $106.
