US Session: Negative sentiment from Europe and mixed performance in Wall Street futures. Caution Awaiting Nvidia Report /Aftermarket/

Increased caution among traders. Negative European session, after a weaker than expected decline in inflation in Great Britain.

Mixed performance for Wall Street futures. The Sp500 and Dow are also down in premarket trade, while the Nasdaq will start with minimal growth.
-This puts emphasis on the gravity of today’s Nvidia report. The results will be of huge importance to the entire market, bringing more clarity to the pace of AI development that is at the heart of the current BullRun.
–Nvidia‘s strong performance over the week and today’s rise in the Nasdaq hint at optimism among traders ahead of the report today after the session, BUT traders still need to keep “one thing in mind”
-Yesterday’s market leader was the defensive Utilities sector, which hints at increased caution among traders.

Markets are near their ATH levels, putting psychological pressure on investors. The lack of economic releases and catalysts for continued growth leave trading in a narrow range this week, but from today it switches to the next gear with the Home Sales release at 17:00. and a set of speeches by members of the Fed.
-PMI data from the US are expected tomorrow, which will provide more clarity on business attitudes and activity in the largest economy.

In order to see growth on Wall Street in the current week, both the Nvidia report and the subsequent guidance will be of cardinal importance.
-Economic releases during the week should also show an improving macro environment to maintain risk appetite among participants.

THE SP500 TECHNICAL PICTURE – DAILY CHART
-Long Trend with consolidation range between ATH and EX ATH levels
-DeMarker Oscillator holds in overbought
-Sequential with ascending printing up to 13
-Successfully validated breakout of transient ATH.

In conclusion: The technical picture shows residual potential for momentum development. Nvidia’s results will be key for the short term direction.
A key support zone is the $5,300/$5,270 levels. Holding above them leaves the bullish scenario. A close below 5,270 will trigger a deeper correction.