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The broad market is trying to break lower out of a multi-week range. It hasn’t finished the job just yet, so we’ll keep an eye on things. Today we’re looking at S&P 500 stocks reporting earnings on Wednesday, November 19th — and we’re starting with Nvidia.
🔍 Highlights
1️⃣ NVIDIA (NVDA):
Still holding above the October 22nd low, which keeps the larger forecast technically intact — even if it’s unlikely to be hit from current levels. The short-term decline from the October 29th high continues, but RSI Power Zones refuse to get deeply oversold, holding firm in the Bull Support Power Zone.
For traders who want to go deeper into these forecast techniques, Hima teaches the full method inside her Lost Forecasting Trading System — including how forecasts can still help guide profitable trades even when price doesn’t hit levels exactly.
Earnings commentary could fuel volatility into Thursday, so keep a close eye on NVDA, given it’s the largest component of the S&P 500 broad market index by weight.
2️⃣ Lowe’s (LOW):
Shares have returned beautifully to a rising long-term trend line, landing right on it by today’s midday trading. Long-term trend lines act like tilted support or resistance, and this one is doing exactly that. A clean example of why stepping back to higher time frames gives powerful context.
3️⃣ Target (TGT):
On the daily chart, TGT might look like it’s sitting at potential lows — but the monthly chart tells a completely different story. This stock is nowhere near true long-term lows, and key monthly support levels come into focus only when zooming out. From there, traders can combine those levels with tools like RSI Power Zones, Gann Candlesticks or Gann Trading Patterns, or even Forecasts to map potential setups.
4️⃣ TJX (TJX):
Another perfect example of why perspective matters. It may appear like it’s at fresh highs until you check the monthly chart. Support for the current uptrend comes from the most recent swing low, a doji low from November 3rd. Staying above that keeps the Bullish trend intact.
5️⃣ Palo Alto Networks (PANW):
Retracing after hitting extreme levels on October 28th. A trend line connecting recent lows could offer future support if price drifts toward it. There’s also room to weaken toward the 50% retracement of the recent advance, which may create a tradable opportunity — especially if the stock forms a trough near the Bull Support Power Zone.
So that’s my take on S&P 500 components reporting earnings on Wednesday, November 19th — with Nvidia being the big one to watch, given its weight in the index.
If you found value in this video — useful technical analysis techniques, reminders, or stocks to keep on your watch list — go ahead and hit that like button.
~Hima
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