NVDA Technical Analysis
Nvidia is slightly positive early on Friday, but quite frankly, we’re in an area that I think is going to continue to be a bit noisy, as we have seen a lot of supply come into the market. We are literally testing the candlestick that had the market selling off so viciously back in late January. So, with that, I think you have to look at this as a market that’s probably more buy on the dip. Ultimately, I certainly don’t want to short this market. It’s definitely a strong one, but that doesn’t necessarily mean that we have the ability to break out right away. I do think you’ll get opportunities to find value. When you do, most traders, I believe, will be taking advantage of it.
INTC Technical Analysis
Intel has gapped higher, but now it’s just kind of hanging around. I think we’re just stuck in this range that we have been in for what seems like a lifetime. The 50 day EMA sits underneath the candle from Thursday, and it is relatively flat, so you could probably make the argument that quite frankly, we are just simply building a base. In fact, longer term traders, Dow theorists, might even look at this as accumulation, but you’re going to have to be very, very patient with that type of setup. Short term pullbacks probably continue to get bought into, especially right around the $20 level.