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Blackwell Guidance Is The Key
Please click here for an enlarged chart of NVIDIA Corp (NASDAQ:NVDA).
Note the following:
This article is about the big picture, not an individual stock. The chart of NVDA stock is being used to illustrate the point.
In the history of the stock market, there has seldom been a stock like NVDA. Nvidia earnings will determine the near term course of the stock market.
The chart shows that NVDA stock staged a major rally after touching the low band of the support zone.
The chart shows that over the last few days NVDA stock has been consolidating.
The chart shows the consolidation has been on average volume, indicating that there is not strong conviction ahead of earnings.
The options market indicates a tilt towards buying.
The Arora Report's proprietary VUD indicator measures net supply and demand in real time. Going into earnings, the VUD indicator for NVDA is mixed.
RSI on the chart shows that NVDA stock can easily go in either direction.
The momo crowd is aggressively buying NVDA stock. The belief among the momo crowd is that NVDA will go to $150 after earnings.
Institutions and hedge funds continue to trim NVDA ahead of earnings. They are not trimming because they are negative on NVDA. They are trimming because they know that earnings is a risk event. Smart money tends to reduce risk ahead of events. In contrast, the momo crowd buys ahead of events because the momo crowd is fixated on the possible rewards and ignores the risks.
As we have been sharing with you, whisper numbers for Nvidia earnings continue to ratchet up. Whisper numbers are higher than consensus.
Stocks move based on the difference between the reported numbers and whisper numbers. Whisper numbers are the numbers that analysts privately share only with their best clients. Whisper numbers from the same analysts are often quite different from the numbers they publish for public consumption. Whisper numbers is a technique used by analysts to drum up business.
Previously we shared with you that Nvidia was expecting significant Blackwell revenues this year. Blackwell is the next generation ...
