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VRA Letter: Nvidia Earnings Miss? Paulsen; The Consumer Leads the Bull Market Higher. Housing Strength. Snowline Gold News.

Good Thursday morning. Heads up: Tyler will be on Wayne Allyn Roots ‘The Root Reaction” on Real Americas Voice tonight in the 10 PM EST hour. Hope you can join in! VRA Market Update Nvidia reported earnings yesterday after t ...

Posted On August 29, 20245 MIN Read
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Good Thursday morning. Heads up: Tyler will be on Wayne Allyn Roots ‘The Root Reaction” on Real Americas Voice tonight in the 10 PM EST hour. Hope you can join in!

VRA Market Update

Nvidia reported earnings yesterday after the close, easily beating analyst estimates but missing the whisper numbers. The shares fell as much as 10% on the news but have since rallied back to -4%. Over the last 3 weeks, NVDA surged more than 35% off of the 8/5 lows, hitting heavily overbought levels on the VRA System. Following some backing and filling in NVDA, we look for NVDA to resume its powerful bull market run. While we do not own NVDA, we are long SOXL (3 x Semi ETF), where we are buyers on dips.

As we covered yesterday, the VRA System sits at 10/12 screens bullish, a slight downtick from our ATH readings of 11/12. The reasons for the downtick are three-fold; Market leadership has degraded slightly, with the semis/tech having led lower beginning in mid-July. Two, seasonality is turning a bit...

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