I'm looking at this as a potential buying opportunity.
Nasdaq futures (NQ_F) are down about 720 points. We've seen the Nasdaq swing plus or minus 1,000 to 1,200 points on a single volatile day recently. From today's high, it's dropped roughly 1,000 points.
On days like this, selling often continues into the close, but I've also seen meaningful rebounds in the last 30 to 60 minutes.
Right now, we're about -5.5% from the all-time high. Back in the second week of June, it dropped to -8%, and to -6% in the fourth week. Both times, it staged a strong rebound from those levels. I'm watching for a similar reversal somewhere between the -6% and -8% levels.
The market seems uneasy with the massive hyperscaler spending. However, in their defense, customer demand is still far exceeding current AI compute capacity. It's also about securing future leadership; companies don't want to miss a major shift like Nokia or BlackBerry did with smartphones.
$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ $ProShares UltraPro QQQ(TQQQ)$ $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$
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