GAME PLAN REVEALED: Earnings Kickoff, NVIDIA Short Setup & Key Levels

This morning on GAME PLAN, Gareth Soloway, Chief Market Strategist at VerifiedInvesting.com, kicked off earnings season with a flurry of actionable insights. From Delta Air Lines’ explosive rally to ConAgra’s sharp decline, the first tranche of corporate reports is reminding traders why volatility is the lifeblood of our careers. NVIDIA’s milestone $4 trillion market-cap and perfect trend-line short setup grabbed the spotlight, while key levels on the S&P 500, Nasdaq, U.S. dollar, Treasury yields and a host of individual names set the stage for potential big moves. Below, we expand on today’s top themes—adding historical context, technical depth, and the psychology that drives decision-making.

Earnings Movers: Delta Air Lines and ConAgra Set the Volatility Tone

Earnings season has officially begun—and Delta Air Lines wasted no time putting volatility front and center. After closing yesterday around $50.65, the stock ripped as high as $58 intraday on better-than-expected results before a modest fade into the close.

“This is a bull flag or cup-and-handle pattern; airline sentiment is very low, and it likely rallies on earnings,” Gareth noted on Monday. Indeed, the daily chart showed a clear consolidation off the March high, followed by a textbook parallel breakout on earnings. Intraday resistance resides between $58.50 and $59—anchored by two prior pivot lows—while the round number of $60 looms just above as a natural psychological barrier.

Contrast that with ConAgra, which tumbled sharply on an earnings miss. Here, the chart reveals a rare setup: two long-term trend lines—one descending from 1997 highs, one ascending from early 1980s lows—converging around $17. That confluence creates a high-probability swing-trade zone, much like uncovering a hidden gem after years of digging. With earnings volatility back in full force, traders should prepare for fast, decisive moves and respect multi-factor levels rather than chasing price.

Key Index Levels Under Scrutiny: S&P 500’s Trend-Line Trifecta and Nasdaq’s Epic Parallel

Equity benchmarks are bumping against historic resistance levels. On the S&P 500 daily chart, a trifecta of trend lines—all drawn from separate market phases—converges overhead. Until the index convincingly clears that zone, traders must treat it as formidable resistance.

“If we push up, those three trend lines are going to react and be a tough battle for the S&P 500,” Gareth warned. Historically, such multiple-trend confluences have marked short-term tops or protracted congestion periods. Only a sustained break above these lines will signal fresh upside momentum.

Meanwhile, the Nasdaq Composite nears a major parallel at approximately 20,900. Drawn from the COVID-low-to-bear-market-low trend, this line has capped rallies at the 2021 bull-market high and again at early-2024 peaks. Every time price tagged this trend, a 15–20% correction followed. Given the market’s tendency to repeat patterns driven by persistent human behavior, another sizeable pullback becomes likely upon retest—unless buyers muster enough conviction to shatter the trend.

Intermarket Indicators: Dollar Stabilization, Yields and the Jobless Claims Caveat

The U.S. dollar index has flatlined around a critical trend-line test. Stretching from the late-2020 pivot high through 2023 lows, April and June 2025 reaction points, this line held firm again in July. A decisive break above could propel the dollar back toward the 103 level, tightening pressure on commodities and foreign earnings.

On the 10-year Treasury yield front, a recent uptick followed yesterday’s slight pullback. Today’s jobless claims print of roughly 227,000 undershot the spike near 250,000 seen in prior weeks, but with the July 4 holiday likely delaying filings, next Thursday’s data may revert closer to 240,000–250,000.

“I’d put an asterisk next to this number… many people probably waited until after the holiday to file,” Gareth cautioned. A genuine trend back toward 260,000 or higher would raise recession risks in bond markets and alter Fed expectations. Keep an eye on today’s 30-year auction at 1 p.m. ET and post-auction Fed speakers for further clues.

Titan Tech Spotlight: NVIDIA’s $4 Trillion Barrier and Short-Setup Anatomy

NVIDIA officially crossed the $4 trillion market-cap threshold yesterday—yet ran straight into a trend-line ceiling. Gareth’s parallel, drawn on TradingView, precisely aligned with the intraday high, producing a quick tail and a sharp pullback.

“It turned out to be a fantastic shortable level for an intraday trade,” he recapped from yesterday’s Game Plan. The textbook setup featured the flagpole (strong move up), the flag (consolidation into that parallel), and a rejection tail. Now trading around $164, traders will watch for a close and follow-through above that line before calling a breakout. Failure to do so could invite fresh sellers targeting the trend-line confluence.

Specialty Charts: GEV, Tesla, Apple and Bitcoin’s Next Targets

• GE Vernova (GEV) – A striking example of measured-move analysis: the rally from its low to first peak equals the second surge to its recent high, flagging a high-probability top. While not a guarantee, repeated symmetry like this signals a 75–80% chance of reversal.

• Tesla (TSLA) – A breakdown from the rising wedge—followed by failed retests and an emerging immature bear flag—speaks loudest. Retail ownership led the buy list last month, heightening risk as sentiment diverges from technicals. As long as price stays below the invalidated wedge, downside probabilities dominate.

• Apple (AAPL) – After an impulsive wedge breakout, the ideal plan is to “buy the retrace to the scene of the crime.” No trade until price returns to the breakout pivot. Holding that level transforms a pullback into a low-risk entry; violation demands a sideline stance.

• Bitcoin (BTC) – Yesterday’s bullish consolidation hit the $112,000 target with precision: flagpole, flag, then pop. The next major hurdle is the multi-year trend-line near $115,000. Until bulls close decisively above, respect it as a ceiling.

Commodities in Focus: Gold, Silver, Oil and Natural Gas Dynamics

Gold failed to confirm its breakdown, keeping a slide toward $3,070 on the table if support gives way. Conversely, silver’s bullish flag remains intact and points toward a rally to circa $39, offering a stark divergence that sometimes presages sector rotations.

In energy, crude adheres to a bear-flag pattern: upside-down flagpole, inside-bar congestion and a retest of the upper channel before a likely continuation lower. Natural gas’s breakdown and subsequent weak bounce suggest further losses into early next week, barring an unexpected supply shock.

Conclusion: Probability, Discipline and the Next Big Moves

Today’s themes underscore a central tenet at Verified Investing: trading is about probabilities, not certainties. Whether it’s an earnings-driven breakout, a trend-line rejection or a classical chart pattern, the best traders define their levels in advance, apply strict risk controls and stay humble.

“All charts, no BS… it’s all about probability,” Gareth reminded viewers. As we approach the market open, watch for institutional flows pushing price in the first hour—only to distribute into retail FOMO—or for genuine breakouts that capture real demand. With financials starting next week and tech following, keep your scans ready, respect multi-factor confluences and trade only when odds tilt in your favor.

Have a great day, and remember: patience and discipline are your best allies in a world of endless opportunity.