We'll see if NVDA recovers from the after hours drop tomorrow or not, but it's not looking great for bulls at the moment. I believe SOXX was a good indication of what was to come this week, but it's never a sure thing. Outside of the April sell off, NVDA hasn't ever shown any real weakness and has rallied every time on earnings This time looks to be different, there were signs.
This may be the last gasp we see out of NVDA as SMCI and other semis are likely to continue plummeting as well. Maybe GDP or PCE can spark a quick recovery, but for now the path of least resistance is down on pretty much everything, especially if ES doesn't reclaim 5600 soon.