TMTB EOD Wrap

Jul 30, 2024

∙ Paid

Just some high level comments today as not a lot of idio news that drove stocks today and gotta hop on some earnings calls... QQQs -1.4% currently testing 100MA today and sitting below post-market as SOX led the market lower - 4%. NVDA -7% as hearing most citing Jensen’s comments that hyperscaler spend rate of change slowing and enterprises will be the next leg of growth. SOX drawdown now 17%. Does AMD’s better DC #s or MSFT’s Azure weaker #s rule the day tomorrow? So far AMD +5% helping carry NVDA +3% in the aftermkt….Charts below courtesy of GS:

SOX drawdown now inline with previous ones but harder and faster…

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