The market held firm yesterday as they close out the month for window dressing. NVDA didn't hit the FP of 160.22, but it got really close in the premarket. It may or may not hit it before it rolls over but when it does finally lose support the drop will be fast and end in 2-3 days.
I'm not sure about the rest of the market as it seems to need a catalyst to breakdown, and its' focus is on Trumps Bill that hasn't yet passed. How will it play out is the mystery? Most likely we'll see it fail to pass at first, then we get the fast drop. Then they come back later and pass it, and the big squeeze happens. Is this going to play out before the July 4th holiday weekend or afterwards is the question I can't answer. If they fail it beforehand we could bottom into this Thursday, and then use the long weekend to get it passed and gap up next Monday for the squeeze.
Or, they hold the market sideways into this Thursday, fail it over the weekend, which causes the gap down Monday, and that bottoms into next Thursday/Friday. Then they pass it over that weekend and gap up for the squeeze the following week of the 14th. Lot's of unknowns but that's how I see it all playing out.
Have an blessed day.
