NQ QQQ 11/23 Week

NVDA in the driver seat

I had mentioned in the discord on Wednesday that I would be watching NVDA at the open for a possible sell off on good earnings. Indeed, this happened with both NVDA and NQ putting in an excess high at open. Since then, I would categorize NQ as demonstrating relative weakness to ES. That said, we must be cognizant that last week (especially the end) was rather low volume and low participation and it is entirely possible that this is negated this upcoming week. As further potential weakness (or strength) in NVDA will likely drive NQ, and NQ names are heavily weighted in ES, it made sense to post on all 3 this week.

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