Worthy of a Brief Discussion

One of the more interesting aspects of the selloff in chips (SMH) over the last week or two has been the lack of real selling interest in NVIDIA, which remains a growth leader in the market by most measures. 

And just this morning, NVDA received a price upgrade target increase to $350, coinciding with semis as a group firming up a bit after their slide. 

While the overall tape is mixed and drifting early on this morning, on top of mixed action yesterday below the surface despite the indices' enjoying a fine session, NVDA seems like a leader hidden in plain sight, worthy of our attention for new run higher after its latest display of relatives strength.

As we can see on its daily chart, below, there is nothing wrong with the chart despite its massive prior advance over the last few years. That will not last forever, of course. But a run into the Christmas also seems viable at some point, too. 

Elsewhere, I see pot stocks are finally cooling off. A multi-day shakeout in CGC TLRY would be just what the doctor ordered (no pun intended) to reset them for better entries.