Get Ready for Nvidia and a Big Market Move

This week will set the tone for your summer trading. ͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­ Forwarded this email? [Subscribe here]() for more [Get Ready for Nvidia and a Big Market Move]( This week will set the tone for your summer trading. [Josh Belanger]( May 19   [READ IN APP](   It’s Sunday, and last week’s market action already feels like summer trading. The big event this week is Nvidia’s earnings, and we’re cruising into Memorial Day weekend. With many folks hitting the roads early on Friday for the unofficial start to summer, let’s break down what happened and what’s coming up. Light Volume, Heavy Implications Last week, the S&P 500 traded on light volume. It was an uneventful week, with the market bouncing around without much direction. Monday and Tuesday were flat. Wednesday saw a bump due to rumors about the CPI (Consumer Price Index), but by Friday, we were right back to drifting. CPI: Hot and Bothered The CPI came in at 3.4%, hotter than expected. Inflation is still a concern. But while you and I see inflation as a problem, the market seems to love it. Why? Wall Street isn't giving up on the idea for two rate cuts this year. This Week: Nvidia’s Defining Moment This week is all about Nvidia. On Wednesday, Nvidia reports its earnings, and it’s expected to make a huge move. With an almost $90 expected move, Nvidia’s performance could swing the entire tech sector. If Nvidia surprises to the upside, we could see Microsoft, Meta, and even smaller tech stocks like Broadcom move with it. Metals on the Move Gold and silver are also catching my eye. Both are pushing into new high territory, signaling that investors are looking for safe havens. This shift could mean big moves in other sectors as well. The Volatility Cocktail We’re in a low volatility environment right now, but don’t be complacent. The VIX, a measure of market volatility, is at its lowest year-to-date. This calm could be the precursor to a storm, especially with so many traders piling into markets, hoping for a quick win. Expected Move for S&P 500 This week, the expected move for the S&P 500 is about $55. With the holiday weekend approaching and Nvidia’s earnings on deck, we could see significant action in the market. Why This Matters What happens this week with Nvidia and the ongoing inflation narrative could define the markets for years. It’s a critical moment, and we need to stay sharp. Strap in, because the next few days could be a wild ride or the continued slow drift higher we’ll see all summer. Good trading monkey, and remember – rent’s due. Josh Belanger You're currently a free subscriber to [Josh Belanger](. For the full experience, [upgrade your subscription.]( [Upgrade to paid](   [Like]( [Comment]( [Restack](   © 2024 Josh Belanger 548 Market Street PMB 72296, San Francisco, CA 94104 [Unsubscribe]() [Get the app]( writing]()