Nvidia Earnings and Tech Pullback: Setup Breakdown

The session is unfolding with a cautious, slightly risk-off bias across equities, though the narrative underneath is more complex than a simple pullback. Tech is the dominant story — and it is pulling in multiple directions at once. Nvidia is sliding into its Wednesday earnings with a three-session losing streak [1], yet analyst price target upgrades from HSBC and GF Securities are still hitting the tape [2][3]. The market is not panicking, but it is not exactly loading up either. The Dow is down over 300 points as semiconductors lead the retreat [4], while inflation concerns and elevated Treasury yields are…