Intraday Market Thoughts Archives
Displaying results for week of May 17, 2026The Nvidia Reversal
Nvidia earnings are due today after the closing bell. Research from Bloomberg (see chart below) indicates that gains or losses seen in the S&P500 emerging on the day of the releases, were usually reversed following day. With earnings guidance already elevated and stock up 30% off the March lows, there remains ample room for disappointment. Will the S&P500 bounce be sold the next day? Bloomberg highlights the number "$1 trillion", referring to CEO Jensen Huang's minimum projection for sales of Blackwell and Rubin AI chips in 2027. There's also the possibility of rising input/energy costs. Also, is the S&P500 or Nasdaq100 showing a right shoulder top near 7450 and 29350 respectively?
The 2600 SPX Cycle
Here is a short video on the 2600 Cycles in SPX and how 1300 leads to 6200 on the S&P500. Watch here.
