Rebound or bull trap?

on the technical standpoint we can see on the week chart is hovering at the 38.2% week Fibonacci level it looks like it's poised for a rebound thanks to the recent economic news regarding the strong US GDP of 2.8% as well as the lower than estimated jobless claims of 235k instead of 238k. nevertheless there has been many good articles popping up regarding NVIDIA this though may be threaded with caution because on the technical standpoint on the weekly chart there seems to be a double top pattern (I may be wrong) and it broke the support line of the 114.88 pre trade of 25th July.

Investors will have to look at tomorrow's PCE data as well as the crucial next few weeks for the key US economics data. Especially watch out for the Fed interest rate decision. Remember to always do your risk management.

and finally a quote by the founder of Vanguard group.

"If you have trouble imagining a 20% loss in the stock market you shouldn't be in stocks"

John C. Bogle 1929-2019

Thank you for your time and do your own research!