Nvidia Drops 3% as Semiconductors Return to Sell Signals
Tuesday’s market outlook points to a cautious start, with stock index futures lower across the board and the VIX continuing to rise. The NASDAQ 100 remains above its 100-day moving average, but semiconductors and South Korea both suffered significant declines and returned to sell signals. Nvidia fell more than 3%, while $212.50 and the August low remain important downside levels before the $200 area and 200-day moving average become the next major support zone.
Money rotated away from technology and chips into cybersecurity, software, cloud computing and communication services, while Alphabet and Microsoft returned to buy signals. Energy remained strong, with crude oil making a new high and Canadian energy stocks reaching a new high for the current move. Meanwhile, the 10-year bond yield reached levels not seen for roughly two decades, reinforcing the importance of monitoring rising interest rates. Overall, the outlook calls for caution, with no clear indication yet that buyers are returning to the market.
Stephen Whiteside
Tuesday, September 15, 2026
