The Market (NVDA 10:1 Split Meaning [With Examples], Charts, and Ethereum ETF Charts)

I hope everyone has been well and enjoying their week in markets. And what a week it was! NVDA smashed earnings, SPY is moving back to the upside for a possible triple top breakout or reversal, Polygon is finally finding some buyers, BTC is on the move, and GameStop awaits Roaring Kitty's next order. Truly an eventful week.

Before we begin, I want to apologize for my lack of articles on the week and previous week. Work got very busy and I was not able to gather research, make the charts, and put it all in writing the way I wanted to. I am working on a secret Deep Dive, but I don't know if I will post it. There is a lot of information to absorb for an article and I don't think it will grab the attention of audiances considering its length and the complex terminology surrounding cryptocurrency and blockchain architecture.

So for now, lets go over markets and talk a bit about where we are at!

For those who are new here and are unaware, I have a Medium page where I post all my DeepDives, DeepCharts, DeepIndicators, and other research. The purpose of it is to be able to share my research in a neat place where all can refer to for free. This way, if there is a topic I have talked about before, you won't have to scroll MooMoo to find what I said.

At the time of writing it needs to be heavily updated. I will begin doing so today and tomorrow. I will also start to include The Market articles as well.

I encourage you to check it out if you want more research on niche topics, charts, research, and soon I will be posting Medium exclusive articles! Which may or may not include free TradingView Charts. So stay tuned for all of that and thank you for the 4 followers!

I am bullish on 10 followers by the end of the year :)

Math: Where X is the number of shares you own, multiply that number by 10

IMPORTANT: Your profits and loss WILL NOT CHANGE. Yes you will own more shares, but those shares will be worth less and 100% proportionate to the price of NVDA after the split.

Therefore, if you see that you now own 1,000 shares, just know that your total profit and loss will not change. You will NOT lose money and you will NOT make money. So don't be afraid to continue holding.

NVDA's stock split is different than what you may know as a Reverse Stock Split.

This is very important to understand for all traders regardless of experience in markets.

Well for one, it becomes much more affordable! Not just the stock, but the options too will become more obtainable. I would not be suprised to see a flock of investors slamming the ask on OTM calls.

It is also pyshcologically satisfying as well. Eventhough you would not have made money from recieving more shares, it puts you in a better position to buy more shares, or options, at a better price.

For each share you own, multiply that by 10. You will not lose or make any money after the split. The stock price will go down and NVDA's split is not the same as a reverse stock split.

The market is retesting all time highs again. Rejecting off the $495.12 Fibonacci level, the price blew right past the $523.42 Fibonacci level and appears to want more upside. However, I would not be suprised to see a pullback into the open before reversing to the upside on the day or the next day.

There is no clear structure on the daily, and I would hardly call this a cup and handle pattern. Regardless, the price is now above the selling lquidity at the all time highs. Again, I would not be suprised to see a pull back on the open or intraday.

There are some stong buyers that stepped up during after hours yesterday. Probably as a result from NVDA's earnings. Other than that, I don't see any clear structure from here. I think there will be more upside unless there is bearish economic news.

There is a bearish upside gap at the $531.04 - $531.62 level that might want to get filled intraday. That might send the price back down to the strong buying liquidity for more upside.

There is a weak upside channel from yesterday around 3:00PM NYC into pre-market on the day. Sellers might want to enter in the highs in anticipation for a downside move to fill the gap intraday.

The price is currently rejecting from the highs of pre-market into some buying liquidity at the $533.64 - $533.69 level. I am not sure if this is enough to keep the price moving to the upside as it is pre-market, but it could be if enough buyers step in. VWAP is at the $533.56 level for now.

At the time of writing, it was just announced that US Lawmakers are pressuring the SEC to allow an Ethereum ETF, similar to ones created for Bitcoin.

In anticipation of a possible ETH ETF, we gotta look at the charts.

Buyers stepped up at the $3,698.80 - $3,774.30 range.

There is also a possible expanding wedge. This pattern tells us of possible bullish continuation and increasing volatility as the price tontinues to move to the upside. Inversly, it could mean a retest of liquidity should the structure start forming a rising wedge, however the current sentiment of Ethereum is overall bullish.

The same analysis can be said for the 1 hour. There are no other notable structures forming, and I think if the ETF gets approved I think the bullish continuation will be realized. Different than when Bitcoin's ETF was released because it was the first. Now that the ETF's are launched and the price broke all time highs, I think there will be a lot more confidence of upside off the bat should the ETH ETF be approved.

Almost nothing new to mention here. Lot's of liquidity down there from the $3,730s - $3,806s. No other structures forming as the price rejects off off the $3,808.00 liquidity.

There is a possible inverse bear flag playing out. Not a full bear flag, and may actually help the price continue to the upside. The probability of upside from this structure is just over 50%. There are some buyers, but not enough to keep the price sustainable. Whether or not the price moves due to this pattern could be as a result of what the SEC says about the Ethereum ETF approval.

Thank you for reading and all of the support! Congratulations to NVDA and their team, and I hope you all made money on the week. SPY looks like it wants to fill the gap to the downside for more upside on the day as I thought it would.

Have a wonderful day in markets