Nvidia bounces

Outlook 11/21: Stock futures jump as investors bought the dip in Nvidia shares that followed its earnings Wednesday night. Nvidia reported better-than-expected third-quarter results but shares of the AI-chip juggernaut, which are already up 194% this year, initially fell in response. Some traders cited the chipmaker’s slowing revenue growth from previous quarters as cause for concern. Or that the chipmaker didn’t exceed the most optimistic estimate in its forecast for the next quarter. But the stock punched into the green in premarket trading as investors bought the dip and as most Wall Street analysts gave bullish reports on the earnings and raised their price targets. 

ESZ24 (DEC2024): YVAH 5930 YPOC 5909 YVAL 5890 GAP 5942

/ES Plan: Yesterday market closed bullish, and overnight continues on that way, moving above previous value/range, so these're the opening and initial balance options for current session:

A) If market moves above YHOD 5957 with bullish internals, buy towards ONH 5971 and ATH-ETH pending 6053 magnet.

B) If market moves below YHOD 5957 with bearish internals, sell towards GAP 5942 magnet YVAH 5930 and YVAL 5890.

Note: Market opens above value and if it begins to trade within value, VAR comes into play.

Market Movers

10:00 AM Existing Home Sales
10:00 AM Leading Indicators
10:00 AM Quarterly Services Survey
10:30 AM EIA Natural Gas Inventory
11:00 AM Kansas City Fed Survey
12:25 PM Fed's Goolsbee Speech
12:30 PM Fed's Schmid Speech
01:00 PM 10-Year TIPS Auction

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