Tech stocks (especially a certain $3.1 trillion chip company) have been leading the market to all-time high after all-time high for weeks now.
But, as I sit here at the cash close today, I’m watching S&P 500 futures get absolutely rocked with volatility… and <boom> all the action stops and the S&P 500 is massively unchanged.
So I’ve got to say tech is probably played out right now. That volatility I was watching a minute ago was NVDA. But the bid under it just isn’t enough to move the markets like it did just a few weeks ago.
I’ve got a chart that shows perfectly what’s going on and what the next move is…