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Nasdaq 100: AI Bubble Fears Overblown, Bullish Trend Intact Above 26,760 Key Intraday Support
Despite a temporary sell-off triggered by concerns around OpenAI revenue, the Nasdaq 100 stabilised, suggesting that recent “AI bubble” worries are not yet supported by technical or momentum signals. The Philadelphia Semiconductor Index (SOX) remains the key market leader with strong gains, but current momentum levels are still below dot-com bubble extremes and show no bearish divergence, indicating further upside may be possible.
Despite a temporary sell-off triggered by concerns around OpenAI revenue, the Nasdaq 100 stabilised, suggesting that recent “AI bubble” worries are not yet supported by technical or momentum signals. The Philadelphia Semiconductor Index (SOX) remains the key market leader with strong gains, but current momentum levels are still below dot-com bubble extremes and show no bearish divergence, indicating further upside may be possible.