NVIDIA Beats, Markets Bounce—Now the Real Test Begins

Morning Express

/ by Blue Line Futures

NVIDIA Beats, Markets Bounce—Now the Real Test Begins

 

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E-mini S&P (June) / E-mini NQ (June)

S&P, yesterday’s close: Settled at 5902.75, down 31.50

NQ, yesterday’s close: Settled at 21,379.75, down 80.75

What an eventful evening. NVDA reported a terrific quarter, topping adjusted and unadjusted earnings estimates, despite the H20 charge-off, and revenue at $44.1 billion versus $43.3 billion. Most importantly, they guided revenues for the current quarter in line at $45 billion, notwithstanding the China restrictions. Additionally, CEO Jensen Huang pointed to the hundreds of thousands of GB200s Microsoft will ramp up to deploy with OpenAI; all hyperscalers will follow.

Next, a court ruled to block President Trump’s reciprocal tariffs, saying he had superseded his powers. This will be an evolving situation; E-mini S&P and E-mini NQ futures ripped higher, but have settled in ahead of the opening bell.

E-mini S&P traded to a high of 6008 and E-mini NQ 21,858, testing just shy of our upside target we discussed yesterday, “Although a breakout above the May 20th highs should provide a significant bullish tailwind, we cannot ignore strong overhead resistance in the E-mini S&P and E-mini NQ at 6019.50-6040.50 and 21,916-22,000.” As prices settle in this morning, it will be critical for a response to the supports listed below. Under no circumstances do we want to see the E-mini S&P break major three-star support at……

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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