NVDA's near-term direction hinges on earnings; a good report could lead to a rally, but a drop below $200 would be bearish for the AI data center sector.

Nvidia is going to be reporting earnings. So, we're going to look at that chart at the end of the show today, but we do have a lot of charts to get through.

Watch that in case Nvidia reports good earnings. Specifically, this is the near-term level but there's one just beyond that that we see here, $568.95. Clearing both of those by the close on Thursday since Nvidia's reporting after hours Wednesday, that would be a big sign near-term that we could be moving higher on the charts.

So I'm watching this very very closely. So near-term resistance mapped out right there tomorrow at $562.35 as well as after hours Wednesday into Thursday's close above 568 and 61 cents.

All right, into Nvidia, guys. Now, Nvidia, as we've seen here recently, near term, uh post a breakout. Now, I'm talk not talking about a breakout to all-time highs, but a breakout from this bearish consolidation that's taken place in the lower 50% of this parallel channel.

You can see price action broke out there on August 5th and it's since completely retraced yesterday, even getting rejected today right here from that same pivot point and location on that horizontal trend line.

So, tells me either side of the coin can go for Nvidia. So, upside direction for good earnings likely will be pressured with this high range pivot. There's a gap fill right here 200 225 dollars.

To the downside, we cleanly have the bottom range of this inclining parallel channel. And which would spell trouble for the rest of the AI data center play. If we get price coming down sub 200 dollars tomorrow after hours, that's not necessarily going to be the robust SMH rally nor break above those trend lines that we highlighted could take place if Nvidia has a good rally.