'A Lot Of Good Already Priced In' Ahead Of MegaCap Earnings; Goldman Warns Of Technical Headwinds

Yesterday's sell off saw the AI trade take back some of its high velocity rally, but as Goldman Sachs Delta-One desk-head, Rich Privorotsky notes, we are back up overnight as Q1 earnings/AI spend momentum continue to underpin the broader tape.

Numbers

Aggregate numbers look solid and exit commentary has generally been good.