Next Day Prep

Next Day Prep #361: NVIDIA CEO Resignation Sparks Tech Selloff – Thursday 11/12/2026

Episode 3616:16

0:006:16

Episode summary

A review of a weak, risk-off trading day triggered by NVIDIA’s CEO resignation and a Nebius timeline delay that hit AI infrastructure names. Energy refiners broke out on an oil jump, and the episode lays out tomorrow’s watch list, Cisco earnings, the PPI release and gap-up/gap-down levels.

Key points

  • Market breadth was weak: only 56.1% of stocks were above their 40-day moving average, with 99 bulls against 429 bears on the gauge.
  • NVIDIA closed at 166.19, down 4.34%, and the S&P 500 failed at its 50-day moving average.
  • Nebius guided FY2026 revenue to the low end and pushed its $7 billion ARR target to February 2027, hurting AI infrastructure names.
  • Refiners VLO and NPC broke out as WTI rose 2.8% to 88.79 after Trump dismissed an Iran deal.
  • Tomorrow's catalysts are Cisco after-hours earnings and October PPI at 8:30 AM ET (consensus 0.4%); the regime forecast stays cautious, so keep position sizes reduced.

Ticker charts

NVDA

Open in app
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open NVDA in WaveFinder.

Daily bars through Nov 12, 2026.

NBIS

Open in app
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open NBIS in WaveFinder.

Daily bars through Nov 12, 2026.

VLO

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open VLO in WaveFinder.

Daily bars through Nov 12, 2026.

NET

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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open NET in WaveFinder.

Daily bars through Nov 12, 2026.

CSCO

Open in app
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open CSCO in WaveFinder.

Daily bars through Nov 12, 2026.

SPY

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open SPY in WaveFinder.

Daily bars through Nov 12, 2026.

QQQ

Open in app
SMAUp (filled)Down (hollow)

Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open QQQ in WaveFinder.

Daily bars through Nov 12, 2026.

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