📺 Watch the Nvidia analysis ahead of TODAY’S earnings report here:
If you trade a broad market index like the S&P 500 or Nasdaq, you need to know what the biggest components are
That was part of the discussion during yesterday’s Ticker Request Live when Nvidia came up ahead of earnings.
If one of the biggest weighted stocks in an index is about to report earnings, that matters. It can influence the action heading into the event and potentially create a gap or big move afterward. I’m trading E-mini S&P 500 futures, soI need to be aware of that. Same goes for any other S&P instrument like was asked about (MES, SPX) or Nasdaq too (QQQI, NQ futures).
But here’s the important distinction: paying attention to a major event does not mean throwing your analysis out the window.
In this particular case, I already have a forecast on Nvidia that is still intact. That forecast was calculated on May 6 and projects Nvidia moving higher into an intersection of price and time by May 29. At the time of this discussion, there were still 10 calendar days left for that forecast to play out.
More importantly, that forecast remains valid so long as price stays above the May 4 low.
So yes, earnings are approaching. Nvidia has the potential to move the broader market. But that doesn’t mean I remove the forecast beforehand.
You can stay aware of major market-moving events and still continue using your charting skills and tools.
That’s really the lesson here!
If you trade indexes, part of your job is simply staying on top of the heavyweight names that can influence the market you’re trading, so you’re not caught off guard when something meaningful happens.
🚨 PS — Watch the Full Replay: Last Night’s Weekly Trading Show
We had our 19th broadcast of Ticker Request Live yesterday!
📺Catch the complete May 19th replay on Youtube (will come down without notice):
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