Saxo Market Call NVDA handcuffed on OpEx. Three interesting names report next week.
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Aug 29, 2025 Ruben Dalfovo, Saxo Equity Strategist known for his deep insights into tech companies, joins the discussion as they analyze the S&P 500's record high and Nvidia's indecisive market position amid an options expiry. They also preview earnings from tech giants such as Broadcom and delve into Salesforce's competitive landscape, highlighting its challenges with AI rivals. The impact of data clouds and macroeconomic factors like gold prices and currency dynamics further enriches the conversation, providing a comprehensive view of the tech sector's future.
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Vol Crush Explains Nvidia's Flat Move
- NVIDIA's post-earnings intraday doji pattern reflects a massive options vol crush rather than a clear directional conviction.
- Implied volatilities collapsed, rewarding volatility sellers and punishing option buyers across expiries.
S&P Divergence Signals Narrow Leadership
- The S&P 500 hit new highs while MACD and breadth indicators did not confirm the move, signaling a divergence.
- That suggests price gains without broad market participation or lower underlying momentum.
How To Read Salesforce Earnings
- Watch Salesforce's data cloud and AI attach rates to judge its next growth phase and re-rating potential.
- Also monitor booked revenue for the next 12 months to assess near-term demand resilience.