🇺🇸 Market Closure Essay


SPY is two dollars away from hitting a new all-time high. Q is three steps away from its peak. The Technology ETF XLK gained 2.2% over the week, hitting a new high close to its face.
But one person didn't follow.
NVDA, slid down 11% from its high. The most certain name in AI, fell behind in this rally.
This isn't a bad thing. Last year, it was all supported by NVDA; when it coughed, the entire sector ran a fever. Now, with SPY approaching a new high and NVDA moving downward, the story of gains is no longer the same.
Money is flowing from AI arms manufacturers to a broader range of tech stocks.
What I really want to see is: can this new high hold without NVDA participating?
If it does, it means the bull market isn't betting on just one stock; it has truly broadened.
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