SPX did a bunch of nothing today, but after hours so far it looks like NVDA is saving the day. Most of today felt like a waiting room for NVDA earnings and now that the numbers are finally out, we are seeing /ES rally after hours.

We are at the half way point of the week and SPX is up just 1 point, dragging along our midpoint of the expected move. There should be a lot of movement coming in the next couple of days as the week winds down.

The daily chart is still stalled out and as mentioned in the video above, some would consider it a bear flag pattern. A lot can change overnight or after the open tomorrow, but there would have to be a serious reversal or a push lower for this pattern to truly play out.

In my weekend video, I had mentioned that if NVDA exploded to the upside on earnings that I would use it as a short opportunity. My stance on that still has not changed. I think the bump we get from NVDA will be short lived and temporary and that we are still in the midst of a pullback.

The goal for tomorrow is to watch for signs of a reversal. SPX will likely open above 7700 unless things change overnight. 7750 is the major key level to the upside, but 7720 could come into play first as well.

To the downside we have 7630 but that seems unlikely right now unless there is a major reversal.

Short post today as I covered some quick thoughts in the video above.

Good luck!