NVDA Earnings Today

Good Morning Team,

Futures are up a little this morning as investors wait for more retail stocks & NVDA to report earnings.
TGT and LOW reported earnings this morning.
Target (TGT) is down in the premarket and Lowe's (LOW) is up.
Sellers showed up on Monday and Tuesday causing them to break below their respective 50 DMA lines.
The small (IWM) and mid (MDY) cap indices are much weaker.
Bitcoin erased the entire gain for 2025 which is a risk-off indicator.
In the short-term Bitcoin is very oversold and due to bounce.  The market is getting a bit oversold as well.
I mentioned last week that defense was key and I want to reiterate that point now that the 50 DMA line was broken.
Defense is king until the major indices get back above their 50 and their 21 DMA lines.

The action under the market's hood (courtesy of BreakoutsAndSetups.com) confirms what I'm seeing...

Wednesday Premarket (as of this writing 7:09 am ET)
2 Extended Hours Breakouts
2 Extended Hours Breakdowns
49 Extended Hours Stocks UP
23 Extended Hours Stocks DOWN

On Tuesday there were:

17 Breakouts

35 Breakdowns

245 Movers UP
149 Movers DOWN

7 Stocks that Gapped UP
8 Stocks that Gapped DOWN

As you know, all this updates in real-time on BreakoutsAndSetups.com

Week Ahead

Wednesday:
Earnings expected from Target, Lowe’s, TJX, Nvidia, and Palo Alto, among others.

Thursday:
Sep Jobs Report.
Earnings expected from Walmart, Warner Music Group, Bath & Body Works, Gap, and Ross Stores

Friday:
Earnings expected from BJ’s Wholesale Club

I'll be back after the open with today's breakouts report.

Enjoy your day!

Adam