May. 6 at 11:54 PM
Market leadership is getting very selective here—this isn’t a broad rally, it’s a scarcity premium trade.
The S&P 500 is being pulled higher by companies selling what the market cannot easily scale or replace right now:
• Compute backbone
$NVDA INTC AMD
• Memory + AI hardware bottlenecks
$MU $SNDK
• Power / infrastructure buildout
$GEV
• Demand-dominant service models where supply is capped
$MAGS
What ties this all together is simple: pricing power comes from constraint. The market is rewarding anything exposed to real physical or structural shortages in the AI cycle.
Not all “AI stocks” are equal—flows are concentrating into the names that control bottlenecks, not just participate in the narrative.
Curious about the full approach?👉 Check the @MeanReverter_