First, I have to say its good to be back among friends after a summer break. A lot has happened in the meantime. In the TradFi and Crypto Markets stuffs are making ATH, and we are in a full-fledged bull market which is third year in the making. History is in favor of us. So, let’s look at the stuffs making new highs and the relative performance. Because relative performance tells us a lot about the over or underperformance, we love to look at 
BTC dominance and similarly in the TradFi space we investigate 
NVDA Dominance a term we coined here.
My favorite is to look at theNVDA / 
SMH i.e. what percentage of SMH is represented by $NVDA. We predicated in this space that NVDA Dominance will touch 65% and NVDA will first touch 170$.
SMH and NVDA Dominance: Some more room to run for both for NASDAQ:SMH by RabishankarBiswal — TradingView
We have blown past our July end target inNVDA, hence our year end target of 240$ looks achievable. The price target in SMH of 315 looks more achievable than before. But will this be a straight-line form here. My expectation is that with SMH @2.61 Fib retracement level with price @ 285 it will go through temporary consolidation before it can resume its upward trajectory with NVDA doing the heavy lifting. The next catalyst is NVDA earning on Aug 28.
Verdict:SMH might go through consolidation here. Year-end targets remain intact: SMH @ 315 $ and NVDA @ 240 $ with NVDA Dominance @ 65%.
BTC dominance and similarly in the TradFi space we investigate NVDA Dominance a term we coined here.My favorite is to look at the
NVDA / SMH i.e. what percentage of SMH is represented by $NVDA. We predicated in this space that NVDA Dominance will touch 65% and NVDA will first touch 170$.SMH and NVDA Dominance: Some more room to run for both for NASDAQ:SMH by RabishankarBiswal — TradingViewWe have blown past our July end target in
NVDA, hence our year end target of 240$ looks achievable. The price target in SMH of 315 looks more achievable than before. But will this be a straight-line form here. My expectation is that with SMH @2.61 Fib retracement level with price @ 285 it will go through temporary consolidation before it can resume its upward trajectory with NVDA doing the heavy lifting. The next catalyst is NVDA earning on Aug 28. Verdict:
SMH might go through consolidation here. Year-end targets remain intact: SMH @ 315 $ and NVDA @ 240 $ with NVDA Dominance @ 65%. 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.