The Nasdaq is "Momentum-less"
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QUICK MARKET UPDATES:
Markets continue to look “momentum-less”
DRAM prices are crazy.
Everyone will soon realize that AI is going to disrupt — and in many cases dismantle — a lot of existing companies. The software names we just watched drop 20%+ didn’t fall randomly. They’re down for a reason.
Most “investors/gamblers” got burned last week. We warned not to chase those popular names. There are plenty of other stocks we cover that are hitting all time highs. (PM, WMT, VRT, HAS, Kopsi, MoogA)
Dollar to the downside
Memory for chips (Kopsi index) is parabolic and a major market to watch for gauging risk appetite.
Discretionary vs Staples is oversold and ready for a reversion to the mean.
Alternative assets: Magic, Pokemon, One Piece and Counter Strike Skins continue to hit all time highs. Follow GMG Collectibles
If Bitcoin bounces, it bounces here.
Google is expecting 7% of workforce to be displaced from AI.
Updated Levels for the S&P
Discretionary vs Staples is completely overdone and outperformance in the value factor (XLE) will not persist for long.
This is still one of the most important market narratives right now. Gold/Silver looking weaker today.
Magic: The Gathering is pushing Hasbro to new highs. Follow GMG Collectibles
July 2025: “Chemours: Don’t look now but Chemours just created 2 state of the art immersion cooling systems for datacenters. Looks like it bottomed.”
August 2025: “Don’t look now but WALMART is about to start its rally to all time highs.”
August 2025: “Vertiv is another strong energy play.”
