Nvidia’s sharp rebound from $148.80 was followed by another selloff. With earnings approaching and a new interim CEO in place, the next price tests could reveal whether buyers are regaining confidence or merely interrupting a larger decline.

Nvidia shares (NVDA) fell 12.75% in the week ended November 13, while E-mini Nasdaq-100 futures (NQ) gained 3.02%. That is an important divergence for a stock widely regarded as a barometer of the artificial intelligence trade.

The message is not that Nvidia must recover or that technology stocks are immune to further selling. It is that Nvidia’s weakness has been considerably greater than that of its benchmark, and traders should watch whether that gap starts closing or becomes even more…