Nasdaq Analysis: Two Critical Levels to Watch Around Nvidia Earnings

Nasdaq futures were trading in a narrow band between 29,200 and 29,310 ahead of Nvidia’s earnings after the U.S. market close on August 26. The analysis frames two key levels: a sustained move above 29,310 would trigger a bullish case, potentially unfolding into a bull flag breakout, while a sustained break below 29,200 would strengthen the bearish scenario and raise the risk of a larger downside move. Until either boundary holds, the market may keep rotating between them. The catalyst is Nvidia, with Wall Street watching roughly $92 billion in quarterly revenue and about $104 billion for the next quarter, and options pricing about a 5% post-earnings move. Macro inputs include easing oil and a 10-year Treasury yield around 4.63%, plus a PCE inflation report before Nvidia results.