Since NVDA didn’t provide the kind of gasoline the bulls were praying for, markets slumped across the board on Thursday. The /NQ sank, and even with DELL up huge after hours, it continues to bleed.
The /ES is also weak:
And, my most recent obsession, the /YM (the Dow 30, formerly at 50,000, umm, dollars) is particularly weak.
The reason I call it an obsession is because I’ve piled into April (very short term for me!) DIA puts, now that the trendline has been broken. I would also say there’s a certain cosmic justice I feel is at play following the repeated references to “50,000 on the Dow” (as if it’s still there) by the current administration.
I’ll leave you, for now, with a picture and a Bible verse.
