NVDA stock rose due to strong guidance (70% growth, $2T backlog); currently suitable for day trading, not yet a swing trade setup.

So number one, we have Nvidia earnings out yesterday after the bell. The stock initially sold off on earnings until guidance was given. When guidance came out, holy cow, the stock reversed a 5% or so drop to surge up now currently up around 7%.

We'll take a look at that chart as always and dive into those numbers.

If we flip over to Nvidia, revenue up 106% year-over-year at 96.2 billion EPS, $222, beating by 14. Data center uh revenue up 117%.

And the guide, this is the incredible thing, the guide was really spectacular, much better than expected with a $2 trillion backlog. And really, if you look below the two trillion backlog, that FY full year 2028 growth guide of 70%, that is what got the stock going.

Well, when we initially got the numbers out, the stock traded down. The numbers beat, so earnings and revenue beat, but we didn't have the guidance yet. And the market was anticipating about a 45% revenue increase in the next year.

And when the CFO, chief financial officer, came out and gave the guidance, it was said to be 70% expected, much bigger. So again, growing revenue at 70% a year when you're doing almost a h 100red billion per quarter. That is incredible numbers.

Now the stock being up 7% or so, it's not a massive move, but remember it's a $5 trillion company. So, you know, the law of large numbers does play in here just a little bit.

Now, if we go to the chart here, and this is going to be the key, right? The chart, you can see initially we sold off on earnings, then surged and have been kind of grinding up in the pre-market.

A little bit of a fade after peaking around 5 a.m. Eastern time this morning, but still up sizably in the morning session.

All right, so Nvidia again is trading up on the day here. Let's go to the daily chart. We'll hit this right off the bat. Couple things I'm watching. You have an ascending trend line up here that's still quite a ways higher.

Ascending trend line down here. So, we basically had Nvidia trading in a slightly contracting wedge pattern here.

But if we look at where the first levels are going to be, there's a gap fill pivot top right in this area. So, I would say right around this 227 to 228 level, that'll be first resistance.

And if we get through that secondary resistance around 232 followed by your all-time high at 236. So you have three levels to watch here um in terms of swing trading.

So these are all day trading levels for me today. Nothing here is a swing trade just yet, but I will show you the swing trading level. So, where am I going to be monitoring this over the next, let's say, two weeks, month, two months for a potential swing short, which is remember the difference is day trades are intraday, meaning I'm in and out the same day.

Swing trades I'm holding for days, potentially weeks, or even a few months.

Look at this guys. You essentially have this trend line up here. Notice how every time we hit this area we have a big pullback. Right? So, the idea is if we do that and we rally up, let's say here, then at some point we'll get that next big pullback and that'll be what I look for on a swing trade shortable level should price get up into that range.

Now, the NASDAQ 100 because of Nvidia, of course, is up percentage-wise more, but the S&P is not robustly rallying. Number two, one of the things Nvidia said, and this is wild, they said that their revenue growth would be even bigger if they were not constrained by how much they could produce.

In other words, there's way more demand, which means capex spending, which means more inflation.

Again, that's another thing that's going to lift yields. So, with yields creeping up, the market's getting a little bit nervous again as the 10-year yield moves back towards its recent highs.

And if we flip over to that chart, you can see again back up on yields. And that's making the markets a little bit more nervous. So, again, little uptick in yields, taking a little bite out of the S&P 500, even in spite of Nvidia racing higher on earnings.