What TheChartGuys said in this video:
- Othernegative for stocksshort-termMetals continue to fail to do what they need to do, a persistently disappointing area.Source
- NVDAbearishshort-termNVDA remains in a waterfall decline with no upside until it reclaims the 4-hour 12 EMA; the host has no interest in the name below that guide, especially with earnings a week away.Source
- NVDAneutrallong-termBigger picture, NVDA is not broken — just larger timeframe consolidation, with the monthly 12 EMA guide down in the 130s before anything structurally alarming.Source
- SPYbullishshort-termThe S&P 500 bounced strongly off the lows, retracing over 50% and holding the lows of balance; holding the 4-hour 12 EMA keeps it healthy while he scouts a daily higher low.Source
- QQQbullishshort-termThe Nasdaq lost support but reclaimed the July lows, proving no acceptance below — a bullish sign that bears are not proving their case; burden of proof is on bears.Source
- SOXXbearishshort-termSemis and memory names are testing broken support as resistance; if bears defend it, that affirms acceptance of the breakdown — a bad look despite the bounce off the lows.Source
- SNDKbearishshort-termSandisk is also weak, sitting right at its broken level and lagging Micron on a relative-strength basis.Source
- MUbullishshort-termMicron is back above its level, showing relative strength versus SNDK; the host's actionable takeaway is to focus on the strong names.Source