Mac10
@SuburbanDrone
This is the story of the stock market year to date as viewed by the equal weight NDX and the World ex-U.S.:
Back in late January, U.S. stocks got hit by AI panic – The fear that AI was going to implode sector after sector including many Tech stocks. So Wall Street pundits recommended overweight global stocks ex-U.S.
That went on for a month and then in late February Trump launched the Iran war at which point global markets ex-U.S. went bidless. So Wall Street pundits have been saying this week to sell global stocks and rotate back to the U.S.
However, now the retracement rally in U.S. Tech is rolling over at a lower high.
Everything is in synch. To the downside.
This is the story of the stock market year to date as viewed by the equal weight NDX and the World ex-U.S.:
Back in late January, U.S. stocks got hit by AI panic – The fear that AI was going to implode sector after sector including many Tech stocks. So Wall Street pundits… pic.twitter.com/hjjbTUdhqP
— Mac10 (@SuburbanDrone) March 4, 2026
TraderHC
@traderhc
ADP beats by 3x and the tape can’t even hold a gap.
$SPY opened at 683 and rolled over to 680 within an hour. Volume running at a fraction of normal. Small caps are red on a jobs beat. Gold is ripping.
That’s not risk-on. That’s short covering dressed up as a rally.
When good news can’t sustain a bid, the structure is telling you something. Breadth is deteriorating underneath a flat headline number.
The real test is 687. If that level can’t hold on actual volume, the next move is back toward 653.
Dead cats don’t bounce twice.