Melt-Up Tickets

It's perilous to say anything about directionality for equities index when the only stock that really matters for the big-cap benchmarks is set to report earnings in less than 24 hours. That's the caveat. Nvidia's obviously the stock. As one popular PM-turned Bloomberg blogger noted earlier this week, Nvidia can (and has) move(d) the entire US stock market by 1% or more during a given five-session stretch "all by itself." If, at any point, whether it's this week or sometime in the future, the c