Even adjusting for expectations, Nvidia’s quarter was awesome.

While I couldn’t have foreseen the market’s response to yesterday’s print, I find it very healthy.

🔥 Had Nvidia gapped up again, it would’ve started to feel frothy. Too hot.

❄ Had Nvidia gapped down, we would’ve questioned what the market has priced into stocks. Too cold.

👌 A flat response in Nvidia, coupled with broadening stock market participation, feels like the perfect, bullish next-day trade. Just right.

It feels like the major indices and market leaders will consolidate a little, allowing the good stocks that have fallen behind to catch up. In short, it seems like a great time to hold what you have or do some tactical buying.

Speaking of which, we’re seeing a number of semiconductor peers outperform Nvidia despite another phenom of a quarter. In the latest edition of the 9:25, I hoped Nvidia’s quarter would act as a clearing event for other strong semiconductor names (AVGO, TSM) that had dramatically fallen behind. Today’s move is a promising first step, indicating that Nvidia’s monopoly on the sector is diffusing in the healthiest way possible.