Feb. 9 at 3:41 PM
Market Check: Can it hold if tech keeps breaking?
Last week was a mini stress test:
• Nasdaq -2%
•
$SPX -0.1%
If this is helpful to you, tap @NasdaqKnight
Rest of the market carried the load —
$RSP +2.1%, 8/11 SPDRs up. History shows this usually fails when tech rolls over hard. Exception: Summer 2024 — tech weak, value/cyclicals held, RSP sideways.
Key takeaway: If tech weakness stays sector-specific and macro hits valuations (not credit), the market can hold. If it spreads beyond tech, trouble.
Meanwhile,
$AMAT ripping
$288→
$322, fueled by AI demand behind NVIDIA, Intel & AMD. Next target:
$345.