QQQ is at a do-or-die test of the 200-day moving average with the weekly cloud already red; historically losing this area leads to large drawdowns, so risk should come off below it.
Apple is at the weekly 21 EMA; if it holds he sees a bounce back toward this week's high near 345 by next week, otherwise a multi-week base before breaking up.
After noting Ethereum made a higher high and pulled back, the host says the move should resume back to the upside, though he frames it as a possible trend change.
Costco is overlooked because of its high multiple, yet it is up 21% year-to-date and beating both major indices — crushing it this year.
Bitcoin is back over 80 and the host thinks the 5% odds of hitting 100k before December are too low, calling 102 the next stopping point; he has a small position on it.
The host notes momentum is coming out of Dell.
AMD gapped up about 7.5% on a double beat, breaking past 505-506 which now turns into support, with resistance at 582.
Broadcom remains in a downtrend channel but the host finds it attractive here, with 280-293 as an aggressive DCA level if it breaks down further.
The host sees Apple's drop as good news: historically Apple is the last to fall in a correction, suggesting the Nasdaq 100 is near a bottom.
The host counted Palantir among his real-money big-tech holdings and said the earnings showed rapid, accelerating revenue growth with commercial revenue overtaking government revenue for the first time, while valuation was much cheaper than a few months earlier. Although the intraday rebound was still a false bullish candle, he saw around 160, which coincided with a prior-high support, as a good add zone and very attractive if reached.
The host counted NVIDIA among his real-money big-tech holdings and said the upcoming earnings should not be bad, its valuation estimate would likely keep rising, and the current share price was attractive. He called yesterday's decline a good entry point and the 200-day moving average a well-tested support, noting he had added shares a few days earlier but was saving cash for other names.
The host argued the roughly 10% Nasdaq pullback was not driven by deteriorating fundamentals because big tech companies remained highly profitable and were growing profits faster. Although the index was still in a downtrend and the exact bottom was unpredictable, he said it was close to a dip-buying window and that further declines were adding opportunities rather than a reason to panic.
After the selloff Google is near a one-year low and prior-low support, and turnover on earnings day was only 0.85%, meaning trapped institutions and retail investors are not rushing to exit, so the host expects a rebound.
The host said that if the fear-and-greed index falls to 10 he would buy the dip aggressively and would like the rebound to last a few days, while noting that this scenario is reportedly unlikely.
After a deep pullback, 10000 on the semiconductor index is simultaneously a round number, the annual moving average and the 0.382 Fibonacci retracement, forming a dense support confluence; the host believes a rebound is imminent absent a major external shock.
Drawing on the Morgan Stanley strategist's short-bearish, long-bullish call, the host said 8000 on the S&P 500 is entirely achievable; a black-swan shock could still drag it to 7100 in the short run, but the longer-term target stands.