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Nvidia CEO Jensen Huang: The United States needs more energy to maintain industry growth.On October 29th, Nvidia (NVDA.O) CEO Jensen Huang dismissed concerns about an artificial intelligence bubble on Tuesday, stating that the companys latest chips will generate $500 billion in revenue over the next five quarters. At the GTC conference in Washington, Huang highlighted the companys Blackwell processors and the next-generation Rubin model as driving unprecedented sales growth. The conference highlighted the companys collaborations with companies like Uber, Palantir, and CrowdStrike to integrate AI into various products. Nvidia also unveiled a new system connecting quantum computers with AI chips. "Weve reached a turning point in this virtuous cycle," Huang told thousands of attendees at a convention center near the White House. "This is truly extraordinary." Huangs speech centered on the AI industrys turning point, arguing that current AI models are powerful enough that customers are willing to pay for them, justifying the expensive construction of computing infrastructure. This view alleviated market concerns about an AI investment bubble, sending Nvidias stock price up over 5% on Tuesday, pushing it above $200 for the first time.On October 29th, a federal judge further blocked the Trump administrations plan to lay off thousands of federal employees during the nearly month-long partial government shutdown. At a hearing in San Francisco, U.S. District Judge Susan Illston extended a temporary ruling that barred nearly 40 federal agencies from implementing layoffs pending the outcome of a legal case filed by unions representing federal employees. Previously, on October 15th, a federal judge in San Francisco ordered the Trump administration to halt layoffs for now during the shutdown.Nvidia CEO Jensen Huang: The $500 billion figure mentioned in the keynote speech corresponds to the scale of five quarters.The three major U.S. stock indexes rose, with the Nasdaq up more than 1%, the S&P 500 up 0.43%, and the Dow Jones Industrial Average up 0.57%.

E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Wrapping Up Terrible First-Half Performance

Skylar Shaw

Jul 01, 2022 14:32

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Just before the cash market closed on Thursday, September E-mini NASDAQ-100 Index futures were trading substantially lower as investors prepared to finish out one of the worst first halves in history.


The technology-based index has been going downward since November 2021, but since the Ukraine-Russia crisis broke out on February 24, it has been particularly heavily damaged. High inflation, increasing interest rates, and, more lately, a potential US recession, all serve to amplify the sell-off.


September E-mini NASDAQ-100 Index futures are now trading at 11536.50, down 154.50 or 1.32 percent, as of 19:45 GMT. The Invesco QQQ Trust ETF (QQQ) is down $3.58 or 1.26 percent, trading at $280.22.


According to a report from the Commerce Department, consumer spending in the United States increased less than anticipated in May. Although the study indicated that inflation had likely reached its high, price pressures are anticipated to persist, therefore the U.S. Federal Reserve should continue on its aggressive policy-tightening course.

Short-Term Prediction

The direction of the September E-mini NASDAQ-100 Index into Thursday's close will probably be determined by trader response to the short-term Fibonacci level around 11524.50.

Grizzly Situation

Sellers will be present if there is a persistent move below 11524.50. Consequently, if this move generates sufficient negative momentum, expect the index to finally retest the last primary low around 11068.50.


Removing 11068.50 will confirm the downward trend. This might result in an immediate challenge of the major bottom at 10944.00 from November 2, 2020.

Positive Scenario

The presence of buyers will be shown by a prolonged advance over 11524.50. A swift advance into the long-term 50 percent mark at 11671.25 may result from this.


It will be a display of strength to beat 11671.25. A late-session short-covering rise into the intermediate retracement range of 12021.25 to 12246.00 may result from this. On June 27, the purchasing was basically halted by this zone at 12262.00.

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