Nvidia (NVDA) is once again front and center as the market looks for direction. With the company’s upcoming developer conference, investors are asking the big question…
Is now the time to buy?
Nvidia’s Role in Market Sentiment
At nearly $3 trillion in market cap, Nvidia isn’t just another stock — it’s a major force in the market. When it moves, it takes everything with it. That’s the reality of a stock this big, especially when it’s a key player in the Information Technology (XLK) sector.
And right now, Nvidia is sitting at a crucial technical level — its 200-day moving average. If the stock catches a bid going into the conference and pushes higher, that could help lift the broader market.
But if it stalls or takes a hit, it could spark another round of selling, especially in the Nasdaq 100 (QQQ), where it carries significant weight.
What to Expect This Week
This developer conference could be a major catalyst, but it’s not a guaranteed bullish event. Nvidia’s recent rally suggests investors are anticipating good news.
If that optimism holds, we could see a strong move higher, which would be a welcome relief after weeks of market uncertainty.
On the flip side, if the market doesn’t like what Nvidia has to say — whether it’s concerns about competition, pricing or demand for AI chips — things could get ugly fast. Sentiment has already been shaky, with fears around tariffs, earnings compression, and a weaker consumer. Another disappointment from a big name like Nvidia could send the market lower again.
For now, I’m keeping a close eye on my Nvidia positions. I have shares, covered calls, and a collar trade in place. I closed out a ratio spread for a solid gain and freed up some buying power. I’m fine holding my current exposure, but I’m not looking to add more until we see how the stock reacts next week.
Bottom line: If Nvidia delivers and the market likes what it hears, we could see a sharp move higher. If not, this could be just another relief rally before more downside. Either way, this stock is going to move the market — and that makes next week a critical one to watch.
I’ll see you in the markets.
Chris Pulver
Chris Pulver Trading
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