In after-hours trading, Dow Jones futures remained relatively unchanged, along with S&P 500 futures and Nasdaq futures. Despite delivering another strong beat-and-raise report, AI leader Nvidia (NVDA) experienced wavering stock prices late on Tuesday.

The earnings report from Nvidia holds significant implications for both the market rally and artificial intelligence stocks. Several notable AI companies, including Microsoft (MSFT), Advanced Micro Devices (AMD), Google parent Alphabet (GOOGL), Meta Platforms (META), Palantir Technologies (PLTR), and Super Micro Computer (SMCI), are either currently in, or near, buy areas.

During Tuesday's trading session, the major indexes experienced modest pullbacks as investors awaited Nvidia's earnings report. Small-caps suffered larger losses, while the overall stock market rally maintained its strength, despite many leading stocks being overextended.

Apart from Nvidia, other companies such as Urban Outfitters (URBN), HP Inc. (HPQ), Autodesk (ADSK), and dLocal (DLO) also released their earnings reports on Tuesday night.

ADSK stock rose significantly, and Urban Outfitters saw a slight increase in their stock prices, thanks to their strong performance. Both Autodesk and URBN stocks closed within their respective buy ranges. However, DLO stock plummeted after falling short of Q3 EPS and revenue expectations. HP stock also fell due to mixed results.

Microsoft stock, Nvidia, and Meta Platforms emerged as top contenders on IBD Leaderboard. META stock found its place on SwingTrader, while MSFT stock secured its position on the IBD Long-Term Leaders list. Furthermore, Nvidia stock, Microsoft, and Super Micro were all included in the IBD 50. Microsoft, Meta Platforms, and SMCI stock were listed on the IBD Big Cap 20.

As for Dow Jones futures today, they remained relatively flat versus fair value. S&P 500 futures slightly declined, while Nasdaq 100 futures fell by 0.1%. Notably, Nvidia stock is a major component of both the S&P 500 and Nasdaq 100, alongside several other significant AI players.

However, it's important to remember that overnight action in Dow futures and other futures markets does not always translate into actual trading during the regular stock market session.

Furthermore, in yesterday's stock market trading, the Dow Jones Industrial Average fell by 0.2%, while the S&P 500 index also experienced a 0.2% decline. The Nasdaq composite had the steepest decline, falling by 0.6%. Moreover, the Nasdaq 100 retraced slightly from its 52-week high on Monday.

The small-cap Russell 2000 observed a 1.3% decrease, hovering just below the 50-day line.

Minutes from the Fed meeting held between October 31 and November 1 revealed that policymakers remain concerned about inflation and are not considering rate cuts. However, the impact of these minutes on stocks and Treasury yields was minimal.

The current market rally appears to be in good health. Tuesday marked only the third down day for both the S&P 500 and Nasdaq since they hit bottom in late October. Leading stocks continue to demonstrate resilience, although many are currently overextended.

Among growth-focused ETFs, the iShares Expanded Tech-Software Sector ETF (IGV) experienced a slight decline on Tuesday, and Microsoft stock is a notable component of this ETF. Meanwhile, the VanEck Vectors Semiconductor ETF (SMH) retreated by 1.5%. Nvidia stock holds the top position within this ETF, and AMD stock is also a significant member.

Reflecting the speculative nature of certain stocks, the ARK Innovation ETF (ARKK) slumped by 2.25%, while the ARK Genomics ETF (ARKG) skidded by 3.7%.

In reference to sector-based ETFs, the SPDR S&P Metals & Mining ETF (XME) rose by 0.25%, while the Global X U.S. Infrastructure Development ETF (PAVE) experienced a slight dip of 0.3%. The SPDR S&P Homebuilders ETF (XHB) decreased by 0.9%. The Energy Select SPDR ETF (XLE) observed a 0.2% decline, while the Health Care Select Sector SPDR Fund (XLV) climbed by 0.6%.

Lastly, the Industrial Select Sector SPDR Fund (XLI) and the Financial Select SPDR ETF (XLF) experienced minor declines of 0.1%.

Nvidia reported a remarkable 593% increase in earnings compared to the previous year, with revenue soaring by 205% to $18.12 billion, surpassing expectations for Q3. The AI chip giant's guidance for the future also exceeded projections, adding to its positive performance.

Following the news, NVDA stock dipped slightly in active overnight trading. During Tuesday's session, shares decreased by 0.9% to $499.44, but still remained within range of a $476.09 buy point from a double-bottom base.

In after-hours trading, Microsoft stock saw a small increase, while during Tuesday's session, it fell by 1.2% to $373.07, within reach of a $366.78 cup-base buy point. A potential pause in trading would allow for the moving averages to catch up.

AMD stock remained steady during extended trading and fell by 1.9% to $119.18 on Tuesday. The competitor to Nvidia currently has a $122.41 cup-with-handle buy point.

Similarly, Google stock experienced a slight decline in late action. On Tuesday, shares rose by 0.5% to $136.97, and investors can use Thursday's high of $137.22 as an early entry point in a flat base. The official buy point stands at $141.22.

Meta stock remained relatively stable overnight, with shares declining by 0.9% to $337.01 on Tuesday, staying within the buy zone of a consolidation pattern that originated in late July.

During extended trading, PLTR stock experienced a slight decrease. On Tuesday, shares tumbled by 7.2% to x19.8. Palantir fell below a $20.24 cup buy point, according to MarketSmith analysis. Despite this, Palantir secured a contract with the U.K.'s National Health Service, which was largely expected.

SMCI stock saw a slight increase during overnight trading. However, on Tuesday, shares fell by 4.8% to $289.85 after soaring by 5.55% on Monday. Even with the slight decline, Super Micro stock potentially offered an early entry point. It currently holds a $317.50 buy point from a less-than-ideal double-bottom formation.

Although experiencing a minor setback, the stock market rally has showcased its strength in November. Investors should take advantage of the buying opportunities presented in recent weeks and maintain significant investments. However, it is worth noting that many leading stocks have reached an extended state. A pause in the market would allow for the establishment of new buy points or add-on entries.

With the market rally currently in a power trend, investors can consider holding potential winners for longer periods and be more willing to invest in aggressive growth plays. Nevertheless, it is crucial to adhere