Advanced Micro Devices Inc

Last week's tech flush was the bait, according to this read, with the Nasdaq sitting on its trendline into a week stacked with job openings, unemployment data and four megacap tech earnings reports.

It's going to be a busy week of economic events. Job openings, crude oil stock and unemployment. It's also a big earnings week with $AAPL, $PLTR, $AMD, $QCOM, etc. Spooking people out of tech last week could have been the perfect trap for a reversal. https://t.co/bwOnF7JLqH https://t.co/0uepqdS471 [Quoted @FinanceLancelot]: The Nasdaq is approaching the trendline this week. According to the October 2018 pattern on the S&P 500, we begin a rally on November 4th, the day after the midterms. The 2020 and 2018 patterns look strange because this chart is in log and I captured the candlesticks in https://t.co/BYTu0dYr2a https://t.co/2bUG8LaBtV

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Bonds returned 14% over the decade, well short of the 39% rise in inflation, while Nvidia returned 13,127%. That gap explains why so many portfolios now lean hard on a handful of AI names.

Last 10 Years... NVIDIA $NVDA: +13,127% Bitcoin $BTC: +12,645% $AMD: +7,733% Tesla $TSLA: +2,607% Apple $AAPL: +1,177% Microsoft $MSFT: +938% Google $GOOGL: +755% Amazon $AMZN: +509% Meta $META: +460% S&P $SPY: +319% Gold $GLD: +220% US Inflation: +39% US Bonds $AGG: +14%

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The selling is hitting the non-AI names hardest, with Intel off 5.9% against NVIDIA's 3%, a sign of sector-wide de-risking.

SHARES OF US CHIP-RELATED COMPANIES FALL NVIDIA DOWN 3% AMD FALLS 5% INTEL DOWN 5.9% MARVELL TECHNOLOGY OFF 5.5%

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