Hey traders, it’s Bryce here.
The biggest market news on everyone’s radar right now:
Wednesday’s earnings announcement from NVIDIA Corporation (NASDAQ: NVDA).
Take a look at the headlines below from Monday:
Wednesday feels like a turning point for the market … But which direction is anyone’s guess.
The market just rallied tremendously from the scare that we saw at the beginning of August. And as you can tell by the recent consolidation, investors are indecisive ahead of the NVDA announcement.
Take a look at the overall market illustrated by the S&P 500 ETF Trust (NYSE: SPY) chart below. We’re hovering near all-time highs:
SPY chart multi-month, 1-day candles Source: StocksToTrade
There will be volatility as a result of the NVDA announcement.
The question is whether you’ll be there to capitalize …
The Hottest Tech Setups
Usually we’re focused on small-cap runners that can spike +100% intraday …
And there are still trade opportunities among those runners this week.
But considering the MASSIVE earnings catalyst that’s about to hit the market, we’re better served tracking larger tech stocks right now.
The AI penny stocks of yesterday are now full fledged swing-trade setups.
The share prices don’t move as erratically as our small-cap runners, and these stocks already have more than a year of price action and financials in the AI sector. Remember that this AI boom started in early 2023!
Plus, right now we can use AI to find the hottest swing trade setups in the market!
For example, a few weeks ago we got an AI alert from our Iris trading bot for Altria Group Inc. (NYSE: MO). It’s not a tech company, but take a look at this trajectory …
MO chart multi-month, 1-day candles Source: StocksToTrade
Iris follows our specific framework for swing trade setups. And right now it’s scanning the market in the midst of a volatile tech sector.
Get the next AI Iris trade alert!
Swing trading is a viable strategy right now! The tech sector is red hot and the market is intensely volatile.
But make sure you’re watching the right stock. And that you have the right trading plan. Iris can help with that!
Here are some more popular tech tickers to keep an eye on in addition to NVDA right now:
- Super Micro Computer Inc. (NASDAQ: SMCI)
- Advanced Micro Devices Inc. (NASDAQ: AMD)
Get ready for the volatility tomorrow!
If you’re nervous about the price action, you can always wait until after the NVDA announcement to build a position. That way you’ll know the market sentiment.
Cheers,
Bryce Tuohey
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