Nvidia: Downhill

NVDA has completed the green wave (X) and started descending toward our blue Target Zone between $91.30 and $76.02, which should mark the joint low of waves (Z) in green and A in beige. From this range, the beige five-wave downward move should continue, layawaying along the boundaries of our pink triangular trend channel to finish the large wave (IV) in blue. This final overarching low should take the form of a truncation, i.e., a shortened correction, and initiate a new uptrend above $137.32. However, it is 30% likely that the blue wave alt.(IV) has already concluded, which would result in a direct breakout above the $137.32 mark.