The tech-focused Nasdaq Composite surged in early trading Thursday, and the benchmark S&P 500 also advanced, following a blowout earnings report from chipmaking giant Nvidia. The Nasdaq and S&P 500 advanced a respective 1% and 0.

However, historical performance data suggest investors should remain cautious despite the impressive early market rally. Over the past two years, Nvidia ( NVDA) has repeatedly experienced post-earnings sell-offs once regular trading commences, according to a social media post from CyclesFan.