New Tuesday Trade Posted. Stocks Trade Cautiously Ahead of Friday’s PCE and Powell Speech.

NVDA Steams Higher.

The quiet trading pattern ahead of Easter continues to unfold.  Yet, despite yesterday’s waffling, the trend is retaining an upward bent as AI bellwether NVDIA (NVDA) is once again moving higher.  Of course, everything could change in a hurry on Friday, as the Fed’s favorite inflation indicator, the Personal Consumption and Expenditure number (PCE) is released with Chairman Powell speaking mid-morning.

Since it’s Good Friday, the market will be closed, including futures.  Thus, we will have to wait until the Sunday night open for a market response. 

Ahead of the Easter Holiday, the stock market was marking time with the S&P 500 (SPX) holding above 5200 and its 20-day moving average.

The stock to watch, NVDIA (NVDA) is rising and may move decidedly higher if it can take out its recent intraday high near $970.  And although it is once again overbought (RSI above 70), money is once again flowing into the shares as evidenced by both the ADI and OBV lines moving higher.

I recently posted a poll titled “Are you Worried About the Economy.”  The results so far are very interesting.  If you haven’t voted, or are just curious, please visit the poll here.