Thoughts on NVIDIA's Q2 earnings and the $100 level

Been watching $NVDA closely heading into their Q2 earnings call this week. The stock has been on a truly remarkable run, obviously driven by the AI narrative, and we saw a significant pullback today with the broader market. It closed around $100.65, after hitting a high of $104.53 earlier. The question on everyone's mind is how it reacts to the earnings.

My take is that we'll see a volatile reaction, but I'm giving a roughly 60% probability that $NVDA will re-test the $93.73 range, possibly lower, within the next two trading sessions post-earnings. The run-up has been so steep, and the expectations are sky-high. Even a strong beat might be met with profit-taking if the guidance isn't absolutely stellar, or if there's any perceived weakness in future demand beyond the immediate AI boom. Conversely, a miss or even a mere inline report could trigger a more significant correction. The sheer magnitude of the recent rally suggests a healthy pullback is overdue, regardless of the results, as traders lock in gains. A re-test of that $93.73 area would provide a more attractive entry point for those who missed the initial surge, but it's going to be a bumpy ride getting there.