NVDA reversal upends Nasdaq 100 gains

As covered here a little earlier this morning, yesterday the Nasdaq 100 was the relative underperforming US stock market index. It did close higher though (+0.36%), recovering an earlier fall to 20,436. The reason for the initial fall was all due to a reversal in the price of NVIDIA (NVDA). The stock did open at a record level of $149.35 and moved immediately to set a new record high at $152.89. However, in what was rather a dramatic reversal, it fell back to $140.70, before later rebounding to close 0.53% higher, at $146.67. So, if you if you overlay that price action onto that seen in the Nasdaq 100, you can see it pretty much mirrored it. That is a perfect example right now, of just how important the price action on NVDA is for the Nasdaq 100. NVDA is after all now the largest component within the index, surpassing Apple. So, the Nasdaq 100 closed 73 points higher last night, at 20,740. The Nasdaq 100 futures are pricing an almost unchanged opening right now this morning and still lagging immediate gains in the Dow Jones and S+P 500