Are Stock Traders Ready To Jump Back In?

After the prior week’s solid week of selling stocks tried to stabilize last week but many of the bulls especially the dip buyers were disappointed. Overall, the stock market seemed ready to rally at the start of the week even though there were no clear signs of a market bottom.

The main concerns last week were the earnings from NVDA and the Jackson Hole comments from Fed Chair Powell. NVDA beat on earnings and revenues by a wide margin after Wednesday’s close as revenue was up over 100% from a year ago. The after-hours surge was met with selling Thursday as after opening at $502.16 it rallied another 50 cents before closing at $471.63 down over 6% from the open and just barely higher for the day.