If you’re looking for macro takes, CNBC headlines, or excuses for why nothing works — you’re in the wrong place. The Trading Initiative is where real traders come to level up. We don’t chase news. We don’t follow narratives. We follow price. Led by Hamilton, TTI teaches traders how to identify trends, isolate relative strength, and capture momentum like professionals. If you’re ready to stop second-guessing and start trading like it’s your business, this is where you belong.
The king wakes up
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NVDA vs MAGS just broke out to new highs. After nearly two years of nothing.. the king of all stocks is leading the Mag 7 higher again. Think about that.. The last time NVDA lead higher in this ratio was April 2023. You might remember what happened next. From April 2023 to June 2024: QQQ ran 55%. NVDA ran nearly 400%. The semiconductor industry group ran over 125%. That's not a rally. That's a regime. Here's why this matters.. the NVDA/MAGS ratio is the cleanest read on whether the biggest name in tech is actually leading the biggest names in the market. When NVDA runs hot against the Mag 7, the whole cycle is hot. When NVDA bleeds against them, the tape is distributing under the surface. For nearly 24 months, NVDA has chopped sideways against its peers. The stock made new highs. The ratio didn't. That's distribution into the other largest stocks in the world. Money rotating out of the leader while the index holds up. That changed this week. The ratio is pushing above the 2024 highs for the first time. New record highs on relative strength. This is what real leadership rotation looks like when it's printing in front of you. Not narratives. Not earnings previews. Not AI hype for the thousandth time. Price. And it's not just the ratio. The Flow Score has been flagging this for four straight weeks. Institutional capital rotating back into semiconductors while every headline was screaming about the war in Iran. The tape was green. The commentary was red. That gap is where the money gets made. AMD breaking out into all-time highs. INTC breaking out into all-time highs. ON, where we just sold a double in the portfolio, up 18.5% this week and nearing all-time highs. Same sector. Same thesis. And at the top of the group, NVDA printing new all-time highs on relative strength. While people who think they're really smart cry about a bubble.. semis are starting a second leg higher. Wednesday we opened new NVDA exposure. The Flow Score put NVDA back on our buy list for the first time all year. Not all week. Not all month. All year. Think about that. The most heavily covered, most forecasted stock on the planet. Every algorithm on earth has a read on it. Every fund manager has an opinion. And for the first four months of 2026, the data said stay out. Now the data says different. NVDA scoring back onto our buy list for the first time in 2026 isn't a coincidence. It's confirmation. The ratio broke out. The peers broke out. The industry group is running. The Flow Score turned. Four independent signals pointing the same direction. One is noise. Four is a trend. The setup from here is clean. NVDA is holding above the breakout level with the relative strength breakout printing in real time. As long as that ratio stays above the 2024 highs, the bias is up. If it fails, we'll know fast. The ratio either holds or it doesn't. Simple. But if it holds.. the April 2023 to June 2024 template is the playbook. Is it unreasonable to think NVDA hits $400/share at a $10 trillion market cap? That's not a prediction. That's what the last time this pattern fired delivered. Profits Over Prophets, Hamilton PS.. NVDA came off our buy list in January. Wednesday it came back on. Hit List members saw the full setup before the move. https://join.thetradinginitiative.com/join-the-hit-list |
The Trading Initiative
If you’re looking for macro takes, CNBC headlines, or excuses for why nothing works — you’re in the wrong place. The Trading Initiative is where real traders come to level up. We don’t chase news. We don’t follow narratives. We follow price. Led by Hamilton, TTI teaches traders how to identify trends, isolate relative strength, and capture momentum like professionals. If you’re ready to stop second-guessing and start trading like it’s your business, this is where you belong.
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