NVDA Big-Picture Perspective

NVDA from a BIG Picture perspective:

Today's price action (so far) represents a technically significant Bearish Engulfing Candle (aka, a Key Downside Reversal Day) in the aftermath of a New All-Time High at 152.89 that was accompanied by a GLARING UPSIDE MOMENTUM FAILURE (bearish divergence).

The combination of these technical "short-comings" argues strongly that the upleg from the 9/06/24 low at 100.95 ended at today's high of 152.89, and that NVDA is in the grasp of a correction that will take some time (measured in 1-2 weeks) to run its course to exhaustion, and leaves NVDA vulnerable to weakness that projects initially into the 130-132 target window (where the correction from today's ATH will approximate 15%)... Last is 142.18 off of an intraday low at 140.70... Today's CLOSE will be especially meaningful technically...