NVDA: August Upleg Nearing Exhaustion

NVDA popped to a new recovery rally high at 131.00 in pre-market trading off of its 8/05/24 low at 90.69 (+44%) but has since relinquished the gains. Let's notice on my attached 4-Hour Chart that this AM's new recovery high was NOT confirmed by my 4-hour Momentum gauge, and as such, serves as a preliminary warning the that August upleg could be nearing, or is at, near-term exhaustion. 

That said, any NVDA weakness (ahead of Powell's speech tomorrow) will need to break key nearest support from 125.80 to 124.89 to inflict some technical damage to the August advance...

For now, the NVDA bulls might be "winded" and might need a rest, but as weakness remains within or above 124.80-125.80, the dominant August uptrend will remain intact...Last is 128.71