U.S stock futures surge after strong earnings result

The result from NVDA brings the stock futures up today. NVDA reported an increase of 265% in revenue compared to the previous year. Revenue came out at $22.1 billion vs. $20.4 billion expectation. Eps come out at $5.16 vs. $4.60 expectation. At the current time, NVDA share prices were up 13% before the market opened. Nothing changed in the stock market situation, traders will continue ride the bullish wave and await for bearish correction for chance to enter more long positions at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index maintains its position near the top and looks to extend the bullish movement. At the current time, DJIA futures are up more than 200 points after the release of strong earnings by NVDA. Traders who have long positions in the stock market will continue to hold the positions now. Meanwhile, traders who have no positions will wait for a bearish pullback in the stock market to enter long positions at a lower level.

Morgan Stanley Com (MS)

MS share prices climbed above the daily SMA 200 and started a bearish correction toward it. At the current time, the share prices are trading near the averages and will wait for reactions. Traders could use the daily SMA 200 as a place to enter long positions, expecting the share prices to continue trading upward and print a new higher high. On the lower side, a close below the daily SMA 100 will cancel the current bullish outlook.