Nvidia Is A Good Buy In This Sideways Market – NVIDIA (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD)

After last week’s down-to-sideways markets and no major market events scheduled for this week, you need to brace yourself for a bumpy ride.

Until the quarterly options expire on Monday, headlines will dominate this market. If there is any whiff of new tariffs, expect a market bump.

New geopolitical tension? Another bump.

That doesn’t mean there’s nothing to trade this week. As long as tariff news doesn’t arrive, the indices will (and are) slowly trend up. And individual stocks offer even more upside potential.

Especially NVDA.

The major indices have a small amount of upside available if we have no new tariff news this week. This would translate to SPDR S&P 500 ETF Trust SPY having room to $575 but struggling beyond that. For single tickers, particularly in the semi and tech space, there is room for more upside.

In the absence of major events this week, markets will be a bit more ‘free-running’ with the specter of tariffs waiting in the background and the quarterly op-ex not exerting pressures till the end of the week.

Our one concern is the key SPY $570 level. 570 is the Bull/Bear Pivot level and the beginning of the neutral zone between 570-575. Get much above this level, and bulls take control and prices soar. Get far below it, and bulls take charge and prices tank.

But it’s also a fragile level. If the SPY closes below 570, this will put us back into negative gamma. And considering volatility has come down a lot (under 19 as of this writing), a volatility spike because of, say, a new tariff could cause a lot of losses.

Meanwhile, Nvidia Corp. NVDA has much more room to run. The stock’s  Bull/Bear Pivot level is currently 120, which is hovering around that price point. If it breaks out above it, that’s a signal to buy it. If it stays below, you should stay away. Any tariff surprise is unlikely to hit NVDA directly, as chip tariffs have already been raised and digested by the markets.

Along with other individual tech stocks such as Tesla TSLA and Advanced Micro Devices AMD, NVDA is a good play for this week heading into the weekend.

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