Wild market rotation nobody saw coming: $SPY sitting just 3.5% off all-time highs while $NVDA is down 40% from its peak. That's not how AI supercycle math was supposed to work.
This tells you everything about 2024's brutal sector rotation. The Mag 7 narrative cracked. Money left semis and moved into defensives, financials, and anything NOT named Nvidia. Breadth improved, concentration risk dropped, but the AI darling got absolutely hammered.
Chart-wise, $NVDA is testing major support zones. If semis are truly bottoming, this could be a generational re-entry. But if the AI trade is over? Different story. Watch $120-$130 as the line in the sand.
$SPY resilience = market health. $NVDA weakness = opportunity or warning. Pick your side.
This tells you everything about 2024's brutal sector rotation. The Mag 7 narrative cracked. Money left semis and moved into defensives, financials, and anything NOT named Nvidia. Breadth improved, concentration risk dropped, but the AI darling got absolutely hammered.
Chart-wise, $NVDA is testing major support zones. If semis are truly bottoming, this could be a generational re-entry. But if the AI trade is over? Different story. Watch $120-$130 as the line in the sand.
$SPY resilience = market health. $NVDA weakness = opportunity or warning. Pick your side.