{"id":67753,"date":"2024-02-24T23:02:56","date_gmt":"2024-02-25T07:02:56","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=67753"},"modified":"2024-02-25T09:09:39","modified_gmt":"2024-02-25T17:09:39","slug":"all-hail-nvidia-and-a-new-market-call-the-market-breadth","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2024\/02\/24\/all-hail-nvidia-and-a-new-market-call-the-market-breadth\/","title":{"rendered":"All Hail NVIDIA and A New Market Call – The Market Breadth"},"content":{"rendered":"\n

Stock Market Commentary<\/strong><\/h2>\n\n\n\n

There is a deepening irony in my on-going bearishness on the stock market. The sector most visibly responsible for the anti-bearish animal spirits leaning against poor market breadth<\/a> is the same sector I remain unapologetically bullish about: Artificial Intelligence (AI)<\/a>. The ironic contrast was in full display last week as the bullish rallying cry went out “All Hail, NVIDIA.” The heralded semiconductor company reported another round of impressive earnings just in time to end the latest shallow dip in the major indices. As I scrambled to put into play a fresh set of (short-term) AI bullish trades, I realized that my bearish trading call on the market needs a modification. Before I explain the changes, let’s take a look at my favorite three major indices.<\/p>\n\n\n\n