The index looks quite strong tonight. Semiconductors are slowly seeing marginal recovery, but overall market breadth is still not enough.

Small-cap IWM didn’t follow; $MU and $SNDK are still deep underwater. The impact from South Korea’s memory expansion capacity increase remains significant.
$AAPL hasn’t recovered either. The narrative that rising prices suppress demand needs time to be disproven, but Apple’s valuation level really can’t withstand waiting like this...
Overall tonight, it’s still weighty stocks pulling up the index, with Russell reconstitution and end-of-month fund fluctuations layered on top.
In the second half of the night, we’ll see whether these few laggards can catch up...