You know it as “Nvidia, the Wall Street darling that for some reason is worth $1.7 trillion.”
I know it as “Nvidia: The most dangerous stock in the S&P 500 right now.” NVDA’s valuation is so far out of whack, so divorced from reality that it has become a threat and a symbol of what’s wrong here. We’ll get to why…
In fact, this wildly bullish environment is really papering over some very unhealthy market internals. I’m going to run through some Spiders that show quite a few sectors are starting to weaken. I’ll show you a scan that shows just 20% of the S&P 500 is at highs.
And of course we’ll look at our expected move for next week. This past week we were looking for a 68.27 five-day move. I’ll show you how we did…