Earlier this week, I told you what I was hoping wouldn’t happen — a drop back below the 200-day moving average.
And thankfully, we didn’t get it.
Instead, the market did exactly what I was hoping for: We got a sharp bounce, reclaimed the 200-day, and now we’re holding steady. That’s a big win, technically speaking.
Now, some traders might look at the current price action and think it’s boring — tight, stuck or range-bound…
But to me, that’s not a bad thing. After a strong move, it’s completely normal for the market to take a breather.
It’s like we sprinted up the hill and now we’re standing at the top, catching our breath before making the next push.
I still believe we’re headed for all-time highs — potentially in June. And unless we see a serious breakdown, I think this tightening is just consolidation before the next leg up.
Of course, there’s always the risk that some of the hot names — think Tesla, Amazon or Nvidia — take a bigger hit and drag things down. That’s the one scenario I’m watching closely.
But for now? The technicals are doing exactly what we want.
Hold the range. Let the chop play out. And be ready for the breakout.
That’s the plan.
Apex Indicator: NVDA
We’ve actually had another positive week. As we’ve talked about, the Bulls are supporting this market at the moment.
And we just got a signal on a Mag 7 superstar….
First, here’s our model portfolio for these free signals I share each week:
That 100% win rate won’t last forever, of course, but it’s great to see early success! There are no guarantees in trading, so trade at your own risk. But we’ll keep these signals coming because I want to show off the power of my Apex Indicator.
So, what stock is an entry?
NVIDIA (NVDA). Here’s the chart:
And here’s a Wrap Order to play this signal.
Ticker: NVDA
- 23 MAY 25 EXP.
- Buy to Open $135 Call.
- Sell to Open $136 Call.
This should give you a net debit around $0.50. Our target on the chart is $148.31 and our stop loss level is $110.56.
Keep in mind that the underlying stock will move by the time you read this, so you may need to adjust your strikes, the idea of a “Wrap Order” being to wrap the two strikes around the current price of the stock.
We enter these trades using wrap orders, and for more training on how to place wraps… go here!
That’s all for today. I hope everyone has a great weekend — join me and Nate at 10 a.m. ET weekdays for “Opening Playbook”!
Graham Lindman
Graham Lindman Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. Nvidia’s next acceleration cycle?
NVIDIA just launched a new foundation model built for humanoid robots — and it’s already being adopted by Boston Dynamics, Google DeepMind, and Disney Research.
According to Graham, this could be the spark that sets off NVDA’s next big run.
A new trade tied to this development just dropped in the Nvidia Elite Member Portal — but access to it (and the best deal) expires tonight.
