Watch SPX as NVDA Nears Record High, MU Consolidates #shorts

7657 on the downside. That's a rising 50-day moving average. We tested that last week uh and held and held remarkably to end September. Uh October off to a good start. 7,800. 77.98 to be exact. We want to close above there uh for a new high. Um so I I like closing new highs and that's why Nvidia is getting me a little uh optimistic uh uh in a sense that if they can close at 240 now any pullback that old resistance around 235 which we're struggling to stay above uh let's see how we close today >> could be support and all of a sudden now the narrative is changes because there's going to be a fear of missing out because Nvidia's gone sideways for a while micron has gone sideways for a while and that's not necessarily a sign of a top earnings. >> That's exactly and and phenomenal earnings. So, these are stocks, they're sleeping giants still. Their earnings are great. Their future projected growth is phenomenal. Uh and the valuations historically, they're cheap. So, um put on the ear muffs, ignore all the noise we're going to hear, and focus on the earnings and the trends. And these biggest stocks are going to lead the market higher. But under the surface, I mean, these staples look horrible. Stars and Pepsi, Constellation brands and Pepsi come into earnings this week at 52- week lows. They look like trash. General Mills a 17-y old low last week. Nike 13-year low. Lululemon broken. Uh so there are a lot of big names that were reliable for long and they're not doing it. So tech tech and more tech.