NVDA Holds the Keys Today
by Tony Rago
NVDA delivered another earnings beat, but the stock is trading relatively flat heading into the open — and that’s the real story this morning. After such a massive run and consistently strong reports, expectations were extremely elevated. When a stock carries this much weight in the Nasdaq and the S&P, the reaction matters just as much as the numbers themselves. So goes NVDA, so goes the tape today. If buyers lean into the report and push the stock higher, the indexes could easily squeeze again. But if the market starts fading the reaction, we could finally see some broader pressure show up across tech.
The key levels remain pretty clean heading into the session. Bulls need to defend 7,400 on ES and continue holding it as support, while NQ needs to maintain 29,000 and 29,106 to keep momentum intact. Below those areas, things could start unraveling quickly. This feels like one of those sessions where the opening range will tell the entire story. Right now, honestly, it could break either direction depending on how traders position around NVDA after the bell reaction settles in. No reason to predict it — let the market open, let price confirm, and then go execute the plan.
👉 Full breakdown is inside today’s Pre-Market Playbook. Check it out here and trade it smart.
– Tony
