Group 1 - The market sentiment around Nvidia Corporation (NASDAQ: NVDA) was perceived as overly optimistic in late August, leading to a sell-off by some investors [1] - Since the sell-off, Nvidia's stock has decreased approximately 18% from its previous levels, indicating a potential correction in the stock price [1] Group 2 - The author has a beneficial long position in Nvidia shares, indicating confidence in the company's future performance despite recent market fluctuations [2]

Market Overview - Today's trading session begins quietly with minimal scheduled economic indicators, including March's Leading Index data and Treasury bill auctions [19] - The absence of international market participation may lead to subdued trading volume, potentially increasing volatility [20] SPDR S&P 500 ETF Trust (SPY) - SPY is trading near a pivot level of 519.71, with bullish targets set at 520.67 and 523.76, and a ceiling at 525.26 [2] - If SPY fails to hold above 519.71, it may drop to support levels at 518.04 and 516.58, with a bearish target at 513.76 [3] Invesco QQQ Trust Series 1 (QQQ) - QQQ is currently at 437.47, with bullish targets at 440.00 and 441.56, and a high target of 446.51 [4] - A failure to maintain above 437.47 could lead to selling pressure towards 435.88 and 431.82, with a bearish target at 430.16 [5] Apple Inc. (AAPL) - AAPL is trading around 192.27, with bullish targets at 193.18 and 195.25, and a high target of 196.01 [6] - If AAPL cannot hold 192.27, it may decline to support levels at 191.57 and 190.52, with a bearish target at 188.20 [7] Microsoft Corp. (MSFT) - MSFT is trading near 363.81, with bullish targets at 366.98 and 372.03 [8] - A drop below 363.81 could lead to support testing at 362.81 and 359.64, with a bearish target at 354.73 [9] NVIDIA Corporation (NVDA) - NVDA is trading near 98.02, with bullish targets at 99.87 and 101.02, and a high target of 103.96 [11] - If NVDA fails to maintain 98.02, it may drop to support levels at 96.58 and 95.02, with a bearish target at 92.47 [12] Alphabet Inc Class A (GOOGL) - GOOGL is trading around 148.95, with bullish targets at 150.41 and 151.24 [13] - A failure to hold 148.95 could lead to selling pressure towards 147.68 and 146.89, with a bearish target at 145.94 [14] Meta Platforms Inc (META) - META is hovering near 492.33, with bullish targets at 498.03 and 500.83, and a high target of 504.54 [15] - If META cannot maintain 492.33, it may decline to support levels at 488.81 and 485.96, with a bearish target at 483.11 [16] Tesla Inc. (TSLA) - TSLA is trading around 230.65, with bullish targets at 233.49 and 238.50, and a high target of 242.49 [17] - A drop below 230.65 could lead to support testing at 228.45 and 226.53, with a bearish target at 223.98 [18]

Core Viewpoint - JPMorgan's Q1 2025 earnings report showed strong performance, with significant stock price movement, but the CEO expressed caution regarding economic conditions [1][3]. Financial Performance - Earnings per share (EPS) reached $5.07, exceeding consensus estimates by $0.45 [2]. - Revenues totaled $46 billion, surpassing the average forecast of $43.9 billion, reflecting an 8% year-over-year growth [2]. Trading Performance - Equities trading revenue surged by 48% year-over-year, reaching a record $3.8 billion, exceeding Street estimates by $560 million [3]. Economic Outlook - CEO Jamie Dimon highlighted concerns about economic turbulence, including geopolitical issues, inflation, fiscal deficits, and high asset prices [3]. - Despite a strong earnings quarter, the overall tone of the earnings call was cautious [3]. Market Position - JPMorgan's stock is considered relatively cheap with a forward price-to-earnings (PE) ratio of 13.63 compared to the broader market [4].