NVDA is giving is giving the VIX indigestion

Pit Stop [fstp, logo, header] August 26, 2024 [ag views, logo, header] NVDA is giving is giving the VIX  indigestion  Nvidia Corp (Ticker: NVDA) has earnings on the 28th after the market closes. After Fed Chair Powell said we might get a rate cut, stocks looked at all time highs in the SPX and stopped. Maybe the rate cut they wanted was not really what they wanted. Volatility went nowhere on Monday. In the absence of news, premiums are sitting waiting for the next big thing. At this point, if NVDA’s earnings are decent, SPX rallies and if they are not, I can see a big drawdown to 5500 or less, even 5400. [ded] SPX has rallied on AI, and traders need the big numbers. Until then we have less than 1% ranges. Note the Volatility Shares - 1 Short VIX ETF (Ticker: SVIX) was unchanged on the day. That means the VIX curve is flat in the short term and traders are unsure of the next VIX direction. [ded] Just another reason we wait for NVDA earnings. [Check out how to trade SVIX here.]( - AG  [logo, pit profits] Want to find YOUR winning fit? Give our Customer Care Team a call at [1-888-872-3301](tel:/1-888-872-3301) Monday-Friday from 9 a.m. - 5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:/support@optionpit.com)  [logo, fvix, header,] The Big 3 Earnings This Week  Hey Traders, In today's video we'll cover all you need to know about trading this week. Earnings, PCE and much more. So [let's dig in!]( [ded]( [Click here to watch the video!]( - Mark --------------------------------------------------------------- Want to get Mark's Trader's Edge updates directly to your inbox?[Click this link to sign up!](  [frep] Ticker of the Week: Nvidia Corp (Ticker: NVDA)  Hey Traders, Earnings season is almost over… But…there is still one more behemoth to release their earnings. This is the AI stock…but since immediately following the this companies stock split it has been in a tumble. At one point the stock fell from a high of over 140 dollars a share to just over 90 dollars a share in less than a month. At this point you should know I am talking about NVDA…is it built on a house of cards… [Lets break it down…]( - Mark --------------------------------------------------------------- Receive the Option Pit "Ticker of the Week" breakdowns as soon as they are released. [Click this link to sign up!](  [fpri] Investor Alert! Powell Plays Politics and Pivot’s  Hey Income Hunters, The market got exactly what it wanted to hear from Fed Chair Jerome Powell. Here are the critical quotes from Jackson Hole: - "Time has come for policy to adjust." - This is Powell signaling that interest rate cuts are likely coming at the September meeting. - "The cooling in labor market conditions is unmistakable." - Powell has shifted his stance, moving away from the mantra that the job market is strong and resilient. - "We do not seek or welcome further cooling in labor market conditions” - Powell is indicating that if the job market worsens, it could justify further or deeper rate cuts.  Bottom Line: After two years of fighting to bring inflation back to 2%, Powell has pivoted towards easing, with inflation still above their target. Powell’s legacy as the second coming of Paul Volcker, meaning crushing inflation for good, may now end up being a legacy of the Fed Chairman who oversaw the Federal Reserve’s loss of independence … The administration has taken over monetary policy … Power Income’s post from last week looked at [the administration swaying the election]( … today we are reporting on how they are also taking control of the Fed The Fed is now effectively a pawn of the Treasury, with decisions potentially swayed by political pressures rather than economic data. [What this means for markets will be examined below …]( - Bill --------------------------------------------------------------- Never miss an edition of Bill Griffo's Power Income Newsletter ever again. [Click this link to sign up!](  Don't miss when our traders go live! Get an alert everytime we open the live rooms to all of our readers for free by selecting the calendar you use below. 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