After the open: Broadcom ($AVGO ) started the day +6.7%, melted −4.5% from the open and is now only +1.9%.
→ Marvell ($MRVL ) −4.2%, Applied Materials −3.0%, Lam Research −2.3%
→ Microsoft ($MSFT ) has picked up +2.0% since the open
→ S&P 500 +0.8%, Nasdaq 100 +1.8%, VIX 23.9
I think the +1.6% futures expectation held in the indices, but chip buyers were exhausted at the open. Worst case: if semis flip red into the close, this bounce is just short covering and selling spills into Monday — that's the turn I'm watching.
Watching: $AVGO $MRVL $MSFT
#Semiconductors #AI #Stocks
→ Marvell ($MRVL ) −4.2%, Applied Materials −3.0%, Lam Research −2.3%
→ Microsoft ($MSFT ) has picked up +2.0% since the open
→ S&P 500 +0.8%, Nasdaq 100 +1.8%, VIX 23.9
I think the +1.6% futures expectation held in the indices, but chip buyers were exhausted at the open. Worst case: if semis flip red into the close, this bounce is just short covering and selling spills into Monday — that's the turn I'm watching.
Watching: $AVGO $MRVL $MSFT
#Semiconductors #AI #Stocks
