Post #15778

Nasdaq Leads the pAIn Trade Nasdaq is leading the downside across U.S. indices, off ~2% as sellers stay in control. Momentum remains heavy, and rallies are being faded — classic risk-off price action with tech acting as the pressure point. This isn’t just software anymore. The AI narrative is shifting from “automatic upside” to disruption risk, wiping nearly $1T from software valuations in a week and dragging semis and mega-caps with it. Selling pressure spilled into global markets, crypto (BTC near $70K), and even metals, highlighting broad de-risking. At the same time, we’re seeing rotation: value and equal-weight indices are holding up better while growth gets hit. Strong ISM data supports cyclicals, but soft hiring keeps the macro picture mixed. Tech is no longer the safe hiding spot — volatility is driving repositioning across sectors. - Alan