Broader US stock indices recover from yesterday's selloff

The major US stock indices closed higher today, recovering from sharp declines yesterday. The S&P 500 rose by 0.77%, the NASDAQ gained 1.04%, and the Dow advanced 0.76%, with the Russell 2000 leading at a 1.12% increase. This rebound indicates a return of risk appetite among traders, who are positioning ahead of Nvidia's earnings report, scheduled for tomorrow after the market closes. Nvidia's shares increased by 0.68% to $192.86 today, marking a year-to-date gain of 3.41%. The stock is nearing a critical resistance zone, and the reaction to the upcoming earnings could significantly influence overall market sentiment. Looking at the daily chart, Nvidia is testing a topside swing area between $193.63 and $196, which has previously acted as resistance. A sustained move above this zone would shift the technical bias more firmly to the upside and might see traders targeting the all-time high from October at $212.19. On the downside, the recent corrective low from February 5 was just $2 away from the rising 200-day moving average, which remains a key level for long-term risk assessment. As long as the price stays above this level, the broader uptrend remains intact. In summary, while equities have bounced today, Nvidia's earnings report tomorrow could serve as a significant catalyst, potentially leading to either a breakout toward record highs or reinforcing resistance at current levels.