PremiumNvidia earnings after the close will be a key test for the tech-led mania and market rally. The stock has been down about 4% from its May 14 high, after a 40% April to mid-May rally. Given the recent shift in Momentum/Semis, today's print may provide some support for further indication in demand ramp-up.First, some big picture background: so far, 84.0% of the S&P 500's market cap has reported. Q1 expectations are for revenues to grow 11.2% and EPS 28.4%. Earnings are beating estimates by 17.3% on aggregate so far, with 78% of companies topping projections to date. The 6 largest megatech companies are expected to outgrow the rest of the market as a group (EPS growth 61.2% vs. 17.9%)