Old Huang might really be dismissed, NVDA directly dropped by 8%, hitting a new low for this month.

The market is still digesting this news. Oil prices are falling, and the Iran conflict seems to be nearing an end; the S&P first fell to 7346, I added a position to my BOS account, then it rebounded to 7635. Today, we will see if it can hold 7571—if it holds, I will continue to stay bullish, if not, it will need to explore downwards.

Funds are rotating in the tech sector. Small-cap stock IWM is holding up well, the Russell 2000 maintained 276, with resistance above at 285–286. The S&P SPY surged from 732 to 762.5 in four days, quite strong; as long as it doesn't break below 750, it can still go higher. The Nasdaq QQQ also rebounded to 695, and must hold 683 to be considered stable.

However, NVDA is truly weak. News about Old Huang being linked with the sales VP has come out, and the stock price has broken below the crucial support of 165. Once it breaks on the weekly chart, the next level to watch is 153. The earnings report is next Tuesday, and the current position looks very precarious.

However, the semiconductor sector did not crash together. The SOXL $55 call option closed on Thursday, and doubled out on Monday, those who held it can earn five times. Funds have turned to AMD, Broadcom, and storage stocks—AMD soared from 468 to 567 in just a few days, and Broadcom also held above 344.

Apple AAPL is currently the strongest, about to reach a historical high, those holding positions are advised to reduce a bit and set good stop losses. Google GOOGL shows a good pattern, if you want to fill the earnings gap, set a stop loss at 285, and only move if it holds above 296.

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