Nasdaq 100

Key insight

29,600 is the immediate pivot: Nvidia's blowout confirms AI capex cycle intact. Hold above this level and the Aug high near 30,200 is next. Lose it and the 28,800 gap fill becomes the short-term target before bulls reload.

Nvidia +8.7% post-earnings on 70% FY28 revenue growth guidance re-ignites AI trade; Nasdaq 100 futures +0.8% overnight and index +1% on the session — momentum firmly upward from Aug correction low.

Main risk

Valuation stretch at post-correction highs

Rally of 9.3% in four days compresses risk/reward; any macro disappointment — PCE, jobs, or Fed rhetoric — could trigger rapid mean-reversion toward 28,800.