On NVDA the implied move into the print is in view, with paper levels at 118 and 122. Those are marks on the delayed sheet, not targets and not orders.
The implied move says how far the market has already priced the evening. It does not say whether revenue, margin, or the next capex line will be the reason. The desk reads the guidance before it reads the candle.
Size beyond the implied range is a second decision. It is not in this note.
What the desk is watching
- Paper levels 118 and 122
- Implied move, not a price target
- Guidance before the candle