European Futures Show Resilience as Nvidia Sales Pressure US Futures

NVDA closed near its 20-day simple moving average (SMA20) at 173.5 after a sharp 7.2% decline over the past 24 hours, and is trading well below its 50-day SMA (187), indicating a weak short-term trend. The MACD is in negative territory and below its signal line, while the RSI at 41 suggests selling pressure persists but is not yet oversold. News headlines imply that Nvidia's sales are weighing on US futures, confirming negative short-term sentiment toward the stock. Nevertheless, Europe's resilience and the price's attempt to hold above the SMA20 may limit downside. A mild downward bias is expected over the next 1-3 days, but whether the 173 level is breached will be decisive.

Nvidia's below-expectations sales outlook is weakening global risk appetite for artificial intelligence and semiconductor stocks; pressure in US futures may pull technology-heavy indices lower in the short term. The relatively resilient course of European markets suggests that selling pressure may remain regionally and sectorally limited. In Turkey, although direct semiconductor exposure is low, the deterioration in global risk appetite may increase volatility in BIST and TL-denominated assets. Overall market sentiment is cautious-negative; selective risk reduction is expected rather than a sharp sell-off.

Nvidia's sales weighing on US futures could create mild short-term downward pressure on the NDX. In Europe, the resistance level makes it difficult for prices to break above, increasing the likelihood of a recovery. RSI and MACD indicators still support the upward trend, preserving the chance for prices to surpass the resistance level. Over the 1-3 day period, prices are likely to fluctuate at the resistance point and, after a brief correction, return to an upward direction. Therefore, the direction is not clear, but resistance appears strong against downside risk.

European indices are holding up despite Nvidia-driven selling pressure in US futures; this relative strength offers a mildly positive backdrop in the short term. However, the RSI at 67.5 is approaching overbought territory and has fallen below the MACD signal line, indicating weakening momentum. Price is trading above the SMA20 and SMA50, maintaining trend support, which limits the risk of a sharp decline. Nevertheless, the possibility of Nvidia-driven technology selling spilling over into Europe creates uncertainty. For this reason, a sideways-choppy course and directional uncertainty stand out in the 1-3 day outlook.