Important Semi Failure

Image Source: Unsplash

Bulls were counting on Jensen Huang to supercharge the bull market into a whole new chapter yesterday afternoon, by making a speech about the super-expensive, super-fast, super-huge new computing products Nvidia was announcing. It didn’t work. NVDA, SMCI, SMH, and QQQ are all down, and AMD, a vitally important component of the semi/AI bubble, has broken short-term support.

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The next support is much more substantial, and more likely to hold, but let’s just say the era of new-highs-every-day are safely behind us.

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