ARETE TRADING WEEKLY REPORT

🔥NVIDIA BEATS AND RAISES. OUR NEXT CATALYST! 📈

Nvidia reported earnings after the close. They were excellent across the board. NVIDIA raised revenue guidance by 10% (Q4 Sales $7.4B Vs. $6.86B Est.).NVIDIA Q3 Adj. EPS $1.17 Beats $1.10 Estimate, Sales $7.10B Beat $6.83B Estimate. Not only are they beating and raising, they are broadening out their revenue sources. Crypto Mining Processor Revenue Was $105M In Q3. This is the first time they broke over $100M in the space. Why this is so important is that it show strength in several sectors. NVDA is a juggernaut so if all of the sectors it services are healthy and growing. The economy can be construed as healthy. This should have a positive effect on the tech laden Nasdaq tomorrow as well as more specifically the semiconductor index. Overall the Indexes look healthy and I expect a rally into the end of the year. As I have been stating for sometime the majority of fund managers are underperforming. They will chase performance. They will buy Growth and Liquidity. Think Tech Mega Caps. Most likely consumer based since we recently had a 1.7% retails sales number far exceeding expectations. MSFT,AAPL, NVDA fit that model. The QQQ looks the best as it is breaking out of a handle we could see it push to $408. $TQQQ is a great 3x ETF to benefit from the moves. The IWM continues to build its wedge and churn. The SPY is right against the upper channel with very little room. That said the XLK ,SPY tech sector, looks ready to rocket. Over 40% of the sector is AAPL and MSFT. Jobless Claims are tomorrow. The estimate is 260K. FYI we have three fed members speaking tomorrow which always leads to volatility. Key levels are marked on the charts !

Let’s look at our Indexes!

Let’s Look at our Stocks!

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