NVIDIA- 9 October 2024

Macro Updates Oct 9, 2024

You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology.

NVIDIA - expanding towards the 20 week cycle peak.

Tech heavyweight NVIDIA has around a 90% correlation with SOX and until this week the same for Nasdaq (currently this week correlation is 37%, so it has decoupled). Underpinning the broad uptrend is the rising 40 week cycle which however is actually nearly 25 weeks along (or 62% of the average wavelength).

Christopher Grafton CMT

Chris has been involved in the markets for 20 years. He is the author of Mastering Hurst Cycle Analysis and is an experienced working technician. Chris holds the CMT qualification.