Here's why August 28 will be an important date for the markets
It is the date that NVIDIA releases its next quarterly results, which will provide guidance on the robustness of the AI growth trajectory.
If it does not meet expectations or not good enough or having iffy forward guidance, it could be game over for the markets and the train wreck intensifies into the final quarter. But if it continues to overwhelm and prove critics wrong again, it could resuscitate the market back into life.
But yet, almost a month is a long time to wait. NVIDIA escaped being damaged more overnight but the Xmas tree theory would suggest that a probable retracement to mid $70s of almost 30% decline could be ahead of us.
