In this week’s update, Blane Markham of Markham Trading breaks down the market’s reaction to Nvidia’s earnings — and the broader technical setup developing beneath the surface.
Despite a strong double beat from Nvidia, the muted price reaction tells an important story. The market is still digesting the catalyst rather than launching into a sustained breakout. That hesitation matters.
Meanwhile, the S&P 500 remains range-bound between 6,800 support and 7,000 resistance. Until price decisively breaks beyond those levels, traders should expect continued chop. A clean move above 7,000 would likely invite momentum buyers. A break below 6,800 could shift sentiment quickly.
Opportunity Is Rotating
While U.S. indexes consolidate, relative strength is showing up elsewhere.
The Vanguard FTSE Developed Markets ETF (VEA), which tracks developed markets outside the U.S., has been quietly outperforming the S&P 500. That rotation is not random — it reflects capital flowing toward stronger trends.
Blane recently issued a call option alert aligned with that international strength, and the position is currently showing approximately a 55% open gain.
The message is clear:
When domestic indexes stall, disciplined traders look for leadership — not headlines.
The Bigger Takeaway
Markets don’t always reward the obvious catalyst.
Strong earnings don’t guarantee immediate upside.
Range-bound conditions don’t mean opportunity disappears.
They often mean opportunity shifts.
Relative strength, trend confirmation, and disciplined execution remain key in this environment. If U.S. indexes continue chopping sideways, traders willing to follow strength into international markets may find better momentum and cleaner setups.
Learn More
If you’d like to learn more about Markham Trading services or speak directly with a strategist, call:
📞 800-883-0524
📞 737-292-4425
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⚠️ Disclaimer: This content is for educational purposes only and should not be considered investment advice. Trading involves risk and is not suitable for all investors. Past performance is not indicative of future results.