We didn't get any big move up after the NVDA earnings yesterday like I had hoped for, which just tells me the market needs more time to carve out a bottom and will rally whenever it is ready I guess. It setting up though for a big move as it keeps making higher lows and has done a wave 1 up, wave 2 down, another wave wave 1 and another wave 2 down... and that's how big wave 3's up form.
To me nothing has changed on the technical side and the wave counts. Only the "event" was a miss, but that's always just a best guess anyway as the market moves on cycles, technicals and waves, and any "event" can be used to get a big move going... up or down. Bottom line here is I'm still bullish on the short term as I firmly believe we have one more blow off top coming. I just don't know the "when" part?
Maybe it needs more time and will drag out into the first week of December? Or maybe it gets going today and some how continues with the top at the end of this month? Only time will tell...
Have a blessed day.
