NVDA's $170B buyback is minor relative to its $5T market cap; technicals show no strong bullish signal, with potential short interest near 260.

So, first off, Nvidia announced an additional $170 billion in buybacks. The stock is up today, even with the stock market down. on that news. I would just like to put in perspective that $170 billion sounds massive, but to a $5 trillion company, it's relatively small, but it's enough to get the stock moving up today on the day.

So, if we take a look here, you can see uh Nvidia once that news was announced, nice pop, and we've now kind of pushed up in terms of trading this on the daily chart. There's not much here, right?

I mean, maybe we fill this gap. That's kind of what I'm thinking is that we go up here to test this physical gap. You can see we came very close to filling the gap here right over here, but it never filled.

So that's at right around 236 and change. If we can get through that, we could move up to the high end of this trend line. That to me would be the short level. I won't short gap fill that.

We kind of kissed it already, but if we move up here, I would consider a short. That would be around currently around 260 depending on where we hit on the line.