Nasdaq – Chart of The Day

 Today, investors’ attention is shifting almost entirely to Wall Street. The key focus is Nvidia’s earnings, which the company will release after the close of the US session. Markets are pricing in a record quarter, strong sales, and—most importantly—highly optimistic forward guidance.

US100 (D1 timeframe)

• Any “scratch” in the report could allow sellers to regain control across equity indices—there is little room for weakness in today’s quarterly release. Nasdaq 100 futures are up nearly 0.3% around 9:30am Poland time and are pushing above the 25,000-point mark.
• The index is currently trading near the 38.2% Fibonacci retracement of the most recent downside impulse. A sustained break above this level—and a move through 25,150—could open the way toward 25,550, where the 61.8% retracement sits. That said, it is difficult to expect a decisive move before Nvidia publishes its results.
• Notably, the index is still relatively close (around 600 points) to the daily EMA200 (red line), which suggests market stress remains elevated. Wall Street caught a breath yesterday after Anthropic announced several strategic partnerships with major US software companies, including Spotify and Salesforce, easing fears of a “total disruption” of their business models.
• This naturally pushed investors back toward a scenario in which companies implement AI into their products rather than compete with it for the same market. However, if those fears re-emerge after today’s NVDA report, the 24,400 area looks like a critical test of the bull trend and a key support zone that the index already rebounded from in early February.
• Overall, key support levels remain 24,750 (23.6% Fibonacci retracement; also reinforced by recent price reactions—lower wicks on the last nine candles) and 24,400 (EMA200). The key resistance remains 25,500, where the 61.8% retracement aligns with the EMA50 (orange line).

Source: xStation5

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