by Joe Lange
March 3, 2025
Heads up.
The entire stock market went up for the last few years because of seven tech stocks that were nicknamed the “Magnificent 7.”
Nvidia was the darling of the market and the “story”(there’s always a media story) of why the market kept going up and won’t stop, is because of the AI revolution.
They always need a lie to create a bubble in order to pump up the market so that the big boys on Wall Street have someone to sell to, when they need to take profits.
On Jan 26, Nvidia reported earnings and beat Wall Street estimates and increased profits and numbers in almost every way.
Nvidia should still be heading higher, right?
So should the market, right?
What’s the reality?
Nvidia is down almost 5% today and almost 10% since the start of the year.
So what is the market doing today?
It’s following Nvidia.
The market was up decent premarket but quickly reversed.
Then it was down good and is trying to reverse again.
The volatility is going up.
That’s usually a sign of the beginning struggle between the bears and the bulls.
This has not been a good start to the year for the market.
Is the top in?
Another clue that it might be in, is the gold and silver prices.
Gold is up close to $50 and silver is close to $1.
They are the only real safe havens in times of financial chaos.
The US ten year Treasury used to be considered a competing safe haven, as the world’s reserve currency, but it is also down today.
And for those still trying to push Bitcoin or any other crypto as a safe haven, Bitcoin is down close to 4% even after Trump’s big announcement yesterday that he was making a lot of different cryptos part of a new crypto reserve.
The fight between the bears and the bulls has a ways to go, but the signals are pointing to the big boys on Wall Street looking to sell.
For many years now, the Wall Street message was, “buy the dip.”
We are starting to see signs of the opposite now, where they are “selling the rally.”
The difference here, is the controlled media would constantly echo the “buy the dip” narrative to keep pumping the market, but they won’t be cheerleading the “sell the rally” narrative, because it’s the little guy, the retail investors, that always take the beating.
I had mentioned before Trump was inaugurated, that my best guess would be the turn in the market coming several months into Trump’s term, most likely March.
I might have hit that nail on the head.
Watch Nvidia (NVDA).
It led the market up and it will lead the market down.
Same with the NASDAQ.
Also watch gold and silver.
Especially silver as it approaches that $36 area.
