The biggest earnings event of the month (and one of the biggest of the quarter) just happened. Nvidia released their earnings, and judging from the nice pop after-hours, it is being well-received.

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You already know the word that’s coming, right? Yes: context. Now, I’m typing these words before the benefit of the conference call, so NVDA might well zip even higher, but as things stand now, the stock remains very far away from lifetime highs and is achieving little more than sealing a price gap (arrow) from months ago. In other words, yeah, the stock is up, but it’s not even closed to an outsized positive event.

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Sure, it would have been nice to see this sucker swoon, but God knows my portfolio isn’t constructed to depend on what NVDA does. Indeed, my tech exposure is vanishingly small. I would also note that, for once, the bulls got a dose of their own medicine and got to have the high-water mark of the day take place at the opening bell, only to see the /ES grind lower for hours afterward.

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Yet that’s not my focus either. Instead, my 21-symbol portfolio features such items as the small cap ETF IWM, which is doing a fantastic job turning away from its rounded top.

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I’m also short a number of financials, including MetLife MET, whose top is sloppier but still usable thanks to the price gap.

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I also stick have it in for Royal Carribean RCL, whose horizontal (anchored to the price extreme of that pink tinted zone on the left) is my stop-loss.

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Most of all, though, I remain about energy, energy, energy. Schlumberger SLB continues to break down nicely, which helped contribute to an overall good day for me.

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Relatedly, the materials XLB ETF still has a pitch-perfect diamond reversal pattern.

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And, of course, our dear friend, the Oil Producers fund XOP. I’ve tightened up my stop across the board on all these, yielding total risk of only 1.67% for my entire portfolio.

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Let’s see how NVDA shakes out after the conference call and into trading tomorrow. See you then!

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