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Banks Bid, Semis Slammed Amid Momo Meltdown As Crude & Crypto Slide

Tyler Durden's Photo
by Tyler Durden
Authored...

Tl;dr: Tech wrecked (after AVGO's AI outlook miss) which exacerbated momo's meltdown, dragging Nasdaq to its biggest underperformance rel. to The Dow in 17 months. Lower oil (Israel truce) pulled yields and the dollar lower (allowing gold to rebound off key technical). Bitcoin tracked tech into the abyss.

Chips breaking bad...but dip-buyers ever-ready...

Oil