The stock market rally took a breather last week, with major indexes pulling back from record highs. The culprit? A sharp reversal in Nvidia, the AI chip leader, which raised concerns about the broader AI sector.
Key Points:
- Nvidia’s stock price skyrocketed in recent weeks but reversed course on Friday, sparking a sell-off in other AI stocks.
- The market pullback could be an opportunity to enter leading stocks in other sectors.
- Square (SQ) and XP (XP) flashed buy signals, while DraftKings (DKNG) is consolidating.
- Keep an eye on Nvidia’s performance in the coming days to gauge the market’s direction.
What to Do Now:
- Be cautious about new buys, especially in AI stocks.
- Update your watchlists to include stocks from various sectors.
- Stay informed about market trends by reading The Big Picture daily
