Yesterday was not an uptrend, but a short-selling stampede
As mentioned before, the positives are: longs escaped the top without being trapped, and VIX can land softly during the decline
Last week, the short-long ratio was 2.5:1, and the shorts were too crowded. How dare they wait for NVDA's performance and not make a profit when it is close to 100?
Once the short position closing begins to stampede, it will be chased by the bottom-fishing. However, it is not a systematic rebound now, and we have to wait for the sellers of options to come back next week
Don't look at Fibonacci stupidly, look at the counterparty