There’s an alternate universe the place Nvidia reported some form of manufacturing stumble or the steering wasn’t robust sufficient or Jensen Huang was sick and this market fell aside.
However on this actuality, it is full-steam forward on the bogus intelligence specific. The Nasdaq is scorching right now, up almost 3% to a contemporary file excessive as NVDA provides $100 to $775 within the largest single market cap acquire in historical past. The S&P 500 is up 100 factors or 2%.
As for the Nasdaq, it is now slightly below the early-February excessive and never removed from the November 2021 file of 16,212.
Nasdaq month-to-month
The Worry and Greed index is into excessive greed territory and there are many nay-sayers but it surely’s actually robust to fade this rally. This can be a market that appears to wish to create a bubble. NVDA is barely buying and selling at one thing like 30x earnings whereas corporations — particularly the leaders — obtained to 50-60x in 1999. There are all the time holes you’ll be able to poke within the story however the entire world needs to be invested in US tech in the meanwhile; there is no sense combating it.
