SPX Market Insight - 2025-12-06
12/6/2025, 7:51:50 AM
2025-12-04
Market Status: NVDA is showing signs of stabilization after a brutal selloff. Trading at $183.38, the stock is still below its 9-EMA ($181.32) and 50-EMA ($184.66), but holding above the critical 200-EMA ($162.11). The recent bounce from oversold territory (RSI hit 29.46 on 11/21) suggests bargain hunters are stepping in.
Technical Indicators: MACD remains negative but the histogram is compressing (-1.38 from -2.16), hinting at potential momentum shift. RSI climbing from oversold levels back toward neutral zone. Price action forming a potential bottoming pattern around the $177-$180 zone.
Prediction: Tomorrow looks green as momentum builds. Week likely closes above Monday's open of $174.76. The bulls are waking up!
Trend: š BULLISH
Candlestick Pattern: Morning Star Formation (12/01 long lower wick hammer at $173.68, 12/02-12/03 consolidation, 12/04 bullish engulfing close at $183.38)
2-Week Options: š Long Call, Strike: 185, Expiration: 2025-12-19
Support: š¢ 177.00 (multiple tests at 11/28 close and recent lows)
Resistance: š“ 185.66 (12/02 high and confluence with 50-EMA)