Nvidia’s results provided the fuel for a bounce yesterday that saw the index reverse all its losses. The resilience of the index when set against the backdrop of the US debt crisis is quite remarkable, and yesterday’s revival cancels out, for the time being, any expectation that the index will join in the risk-off move across US indices. A move back below 13,500 would open the way to the 50-day SMA and rising trendline support from the January lows. Fresh upside targets 14,300 from mid-April.
