AI Rally Reboot: Can Breakouts Hold and Drive the Next Leg?
Stocks rebounded as the AI rally returned, led by mega‑cap strength (MSFT, NVDA, AMZN, GOOG) and a rebound in chip names, with the S&P 500 flirting with a breakout and the Nasdaq‑100 climbing. The rally’s durability now hinges on holding key levels: S&P around 7,490–7,600, Nasdaq‑100 about 28,800–29,000, and the SOX near 10,500, with upside targets near 12,500–13,000 for chips and 30,660–30,760 for the Nasdaq‑100. Apple lagged the rally, while Citadel’s AI portfolio move removed some overhang, leaving the market’s next move to broader participation beyond the megacaps.
