Bulls were counting on Jensen Huang to supercharge the bull market into a whole new chapter yesterday afternoon, by making a speech about the super-expensive, super-fast, super-huge new computing products Nvidia was announcing. It didn’t work. NVDA, SMCI, SMH, and QQQ are all down, and AMD, a vitally important component of the semi/AI bubble, has broken short-term support.
![](https://slopeofhope.com/wp-content/uploads/2024/03/AMDFAIL-640x356.png)
The next support is much more substantial, and more likely to hold, but let’s just say the era of new-highs-every-day are safely behind us.
![](https://slopeofhope.com/wp-content/uploads/2024/03/amdsup-640x441.png)