03/19/2024

Hey Trader,

The all anticipated NVDA GTC conference has kicked off and I'm not excited.

NVDA is the "it girl" that has so many haters. The more the days go on the more bears I see hoping to claw this thing. Any major event that matters for NVDA the consensus bets it will drop/hit the markets. If you recall back during NVDA earnings I got on my soap box writing this is going to be a non event for the market. NVDA popped higher, the markets continued to chug higher and now we're here.

NVDA's chart is very easy to read, so I have some analysis for the bulls, bears and the FOMOs.

For the Bulls: NVDA has been holding its bullish symmetry and made a triangle breakout at the top of the range. The Upside target here is $960, then $1000.

For the Bears: If NVDA breaks back below 860, we have a thin zone down to 800. Once a pattern like this breaks and fails, it can maximize a reaction, and since we'll be entering a thin zone, this will be a falling knife situation.

For the FOMOs! If we do get that breakdown and hold $800 for a couple days, we'll be balancing on volume support AND still holding the incredibly bullish uptrend symmetry. This would be your buy point to hit. My target. Of. 1000!

Mark’s up next with a market breakdown and VIX highlight…

Market Moves and Big Money Flow Spotlight: VIX

By Mark Sebastian

• Big Money Flow happens when someone buys or sells thousands or tens of thousands of options at once.

• Insiders behind these plays have knowledge no one else has and these moves signal wild stock shifts to come. 

• I specialize in spotting, understanding, and profiting from these moves.

SPX could be swelling. We are seeing a higher low and higher high for volatility (the bottom red line) in cycles. Even as the SPX is sitting at a near all time high VIX is up 2 points since March 1st…

Could this be FOMC related? Sure...but more likely the market is sensing how overbought it is and is looking for a way out.

Could it be a huge sell off? Maybe.

Will we get a retest of 5k this month? Probably.

Now for some Big Money Flow…

On Monday, I saw a swell of call buying in VIX options. Traders bought every month April through August looking for a potential pop.

9/10 top 10 trades on Monday were calls.

And since VIX = Volatility, traders are worried about something brewing in the market.

Whether you’re bullish or bearish, we’ve got a trade for every scenario. 

And this Friday, March 22nd, is our Free Friday Trade to Close show!

During our last Free Friday open house on February 16, we dropped a free trade in GE: March 28th 155 calls for 4.20. They traded at over $9! That's a 114% increase.

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Use this link on Friday at 3:00 PM ET to see the live stream.

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Can’t wait to see you soon!

Always be closing,

Olivia Voz and Mark Sebastian