S&P 500 Futures Gain as Nvidia Earnings Take Center Stage

20 Nov

S&P 500: US Futures Rise Ahead of Nvidia Earnings

US stock futures advanced on Wednesday as investors eagerly anticipated Nvidia’s earnings report, reflecting strong expectations for the leading AI microchip producer.

The spotlight remains on the demand for Nvidia's Blackwell AI chips, widely adopted by major companies such as OpenAI, Microsoft, and Meta to power AI data centers.


Technical Analysis
The price has surged significantly in anticipation of Nvidia's earnings report.

If the price remains above 5,927, a bullish trend is expected, targeting 5,971 and 5,989.
Conversely, a 4-hour candle close below 5,927 could signal a move downward, with potential levels at 5,896 and 5,863.

Key Levels:
Pivot Point: 5927
Resistance Levels: 5970, 5989, 6020
Support Levels: 5898,5863, 5843

Trend Outlook:
- Bullish Above 5927
- Bearish Below 5927