$SK hynix(SKHY)$ KOSPI looks like it had a soft gap close, with price pulling back into the meat of yesterday's trading but not all the way to the close. It bottomed at 6842 and has bounced back 50 points. The overall market is up 86, or 1.2%.
Nvidia is close to after-hours highs again, knocking on a 78.6% Fibonacci retrace that has been acting as resistance.
Nikkei had been up as much as 1400 points on the day but then dropped almost 1800 points. No clear reason beyond gap closing, same as KOSPI.
Over 10% of the QQQ float was short going into the close, as Nvidia was treated like a non-event and many sold after the Nvidia earnings release. That clearly turned out to be a mistake.
Nvidia will likely double by next year. Its revenue growth is substantially higher than many anticipated, and the forecasted growth for 2027 and 2028 is even higher. Nvidia's stock has been suppressed for months. That is going to come undone.
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