Coach Mark here.

I am not an earnings expert as I leave those heavy-lifting duties to my brother Matt. He will break down Nvidia’s earnings numbers on the Halftime Report today but even as a “non-expert” I can tell you that Nvidia had an impressive performance. Beats on the top and bottom line, a beat on the critical data center revenue, an increase on free cash flow and another beat on adjusted gross margin. Oh, and if that was not enough, they gave a VERY healthy increase to guidance. Still not impressed? How does a 10:1 stock split sound as the proverbial cherry on top? Nice work.

Not surprisingly, markets are breaking out of very nice technical patterns that we have been highlighting lately. This was a nice setup for the bulls as we highlighted earlier this week in our programming. Take a surge on the CPI report, pause and form a nice high-base pattern and then break out on Nvidia’s earnings to take that next leg up. That is what the bull’s ordered and their order has been delivered.

As trader’s we now turn to technicals and ticker selection while keeping an eye on macro catalysts. Nothing major on the calendar until the end of next week and the next inflationary number. Technicals tend to dominate those environments.

Join us on a fun Halftime Report today and we will break it all down. Have a fantastic Thursday!

Chart of the Day: Nvidia (NVDA)

Nice surge after-hours on Nvidia’s great earnings report. Overnight resistance has formed just around 1020 and a level trader’s will be monitoring today.  

Today’s line up

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