Upside Market Response to NVDA Earnings, Plus Eye on Jobs Report

Good Thursday Morning, MPtraders!  November 20, 2025-- Pre-Market Update:  

-- NVDA rules!  The company reassures investors via its very strong revenue estimate. Jesen reports Q3 earnings per share of $1.30, beating expectations for $1.25. Q2 sales came in at $57.0 billion, easily surpassing forecasts for revenue of $54.8 billion. Nvidia is firing on all cylinders, and AI is clearly driving growth...

Technically, as long as any forthcoming weakness is contained above or within support lodged between 188 and 192, my pattern work argues for upside continuation that tests the next-higher consequential resistance zone from 200 to 203, that if (when?) taken out, will project NVDA toward 215-219... Last in pre-market is 196.25...

-- ES-- The Equity Indices and Crypto Currencies respond on the upside to NVDA's reassuring Earnings Report, on the day that the positive November Seasonal period kicks into high-gear... 

Technically, as long as any forthcoming weakness is contained above 6694, my pattern work argues for upside continuation that challenges resistance at 6780-6800 next... Last is 67412.00...

-- On to the next Challenge: The September Jobs Report will be released by BLS at 8:30 AM ET today-- the first tranche of official labor market data since the 41-day Government shutdown (see Economic Data table below)... On the subject of the US economy, the latest Atlanta Fed GDPNow estimate is up to a 4.2% growth in Q3, 2025!  If this is reasonably accurate, then the heretofore elusive animal spirits expected from the Big Beautiful Bill are in fact positively impacting growth (even if it doesn't feel like it yet)...

More after the Jobs Report...