Hey traders,
The other day I told you about how NVDA popped after Taiwan Semiconductor (TSM) reported earnings. It almost hit its all-time high before pulling back by the end of the day. But I also told you that I expected it to hit that level again soon.
Well, guess what? Just a few days later, NVDA did exactly that — and now we’re looking at new all-time highs.
I’ve said it before, and I’ll say it again: this whole AI thing still has a lot of juice left in it. And as the premier AI stock, I believe NVDA is going to keep cranking higher.
Now, this all falls in line with something bigger I’ve been keeping my eye on. But before I dive into that, let’s take a look at what’s happening with the broader market.
Let’s look at the three major indexes.
SPY
DIA
QQQ
Notice something?
Both the SPY and the DIA have been hitting new all-time highs recently.
But if you take a closer look, you’ll see that the QQQ has been lagging behind. It hasn’t yet broken through the all time high it made back in July.
Well, here’s my take: I think Q4 is when that changes.
I’m expecting tech stocks to rally, and the QQQ to start catching up with the other two indexes.
Earnings season is rolling on, and I believe we’ll see more momentum in tech as those reports roll in.
But wait — here’s probably the most important thing I’m going to say: always remember, the market can be unpredictable.
So no matter what I think, anything can happen. If you decide to play this idea, don’t forget to stick to the game plan where we sell options instead of buying them.
Trade well,
Jack Carter
P.S. Nate Tucci’s uncovered a way to target overnight income — up to 5 times per week. Get the details here!
