Nasdaq 100 closed yesterday above 16K thus taking out the July peak.
RSI is showing positive sentiment with no divergence indicating likely higher Index levels. A short term peak could be around the 1.618 projection at 16,122 possibly at the 1.764 projection at 16,308
However, there is no resistance until the all-time high at 16,765 from November 2021.
A negative surprise from Nvidia Earnings announcement today after market can initiate a correction in Nasdaq 100 – and S&P 500 for that matter.
Unless it is a massive negative surprise the earnings announcement is likely to just initiate a correction in both Nasdaq 100 and S&P 500 before uptrend is resumed.
To reverse the bullish trend a close below 15,171 is needed. First indication of that scenario to play out would most likely be a close of the gap i.e., a close below 15,535