Drew Dosk argues that Nvidia’s post-earnings selloff pressured semis and tech intraday, but broader indices recovered into the close. He frames the tape as technically fragile but not broken, with near-term focus on support/resistance in NVDA, SMH, NASDAQ, and a handful of earnings winners and sympathy names.
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This episode of Trading the Close is a technical-market wrap centered on Nvidia earnings and the knock-on effect across semiconductors, tech, and a few individual names. Drew Dosk opens by saying Nvidia delivered a strong earnings and guidance report, but the stock was sold heavily the next day, creating pressure in semis and tech. He contrasts that with the S&P 500, which sold off hard early but recovered into the close, leaving the market in a consolidation-like posture rather than a full breakdown. He then walks through several charts: the S&P 500, NASDAQ, SMH, Bitcoin, Ethereum, natural gas, Nvidia, Broadcom, Zoom, JM Smucker, IonQ, Rigetti, Spotify, GoDaddy, and CrowdStrike. For each, he emphasizes simple chart levels, trendlines, channels, and moving averages. …
Near term, the tape looks fragile but not broken: Nvidia’s post-earnings rejection is the main pressure point, while the immediate action depends on whether semis and NASDAQ can defend nearby support. PPI is the next catalyst that could either stabilize the bounce or intensify the selloff.
Over the next several weeks, the market likely stays stock-selective unless Nvidia and semis reclaim broken levels; if they fail to do so, tech may remain capped while other sectors and idiosyncratic earnings winners outperform. A clean hold of the key support zones would keep the broader uptrend intact.
Structurally, the transcript argues that leadership stocks like Nvidia can dictate market regime, and that investors should treat technical deterioration in those leaders as an early warning. The longer-run lesson is a regime of rotation, where index stability can coexist with major dispersion underneath.
Nvidia reported a double beat on EPS and revenue with fantastic guidance, but the stock still sold off heavily afterward.
The speaker explicitly says earnings and guidance were strong, yet investors sold the stock anyway.
The S&P 500 was weak early but recovered into the close and ended near yesterday’s price action, which the speaker treats as constructive consolidation.
He describes a sharp morning selloff followed by a recovery and says markets are not on the edge.
NASDAQ weakness was heavier than the S&P 500’s, and the index is now approaching a warning zone around 24,660.
He says tech selling was more severe and identifies a nearby lower boundary of concern.
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