Well the single day ~+7% was unfortunately not able to hold up too well as Nvidia slumps back 4% on the possibility of 2 reasons:

1. Profit taking activity by high frequency traders. I believe majority of the people would not have predicted such an optimistic jump in share price after earnings - most were expecting probably about 2 to 5% change. Hence the profitting opportunity came following a surge in temporary hype and optimism.

2. Warsh's Jackson Hole key statement: the closest him and his team has came to a decision for rate hikes if they are not confident that underlying inflation would return to their 2% target. This saw a pullback for most stocks, especially those in the tech sector as investors are once again reminded to be cautious of the macroeconomic conditions.