<p>Happy Wednesday traders. It’s a fun start to the week, with the most important earnings report of our lives now behind us after this afternoon. In short, a complete blowout in earnings from NVDA, crushing expectations. The stock was down about -$4 AH at the time of this writing, and I don’t look at this as a bearish event. As for the negative reaction to the event, this sort of thing occurs when the markets have already priced this sort of thing in, therefore when there are no more buyers the only place left for the asset is to sell off. </p><p>Elsewhere, we’ve seen a 110 point bounce in GC, or 4.2% off my long level mentioned last week. DXY is attempting to build acceptance above the $107 level again, aided by Fed member Bowman’s comments today. Notably, some Fed members are trying to price in a pause for December FOMC, but more on that at a different time. </p><p>Right now the theme this week is a lot of stocks coming down to find support at short term moving averages, either the 9EMA or 21EMA. If buyers defend this technical support, a higher low has been put in place in many names across the indexes, and a run to the highs is next.</p>
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