The bearish candle on Friday in the US stock market—I’m not rushing to buy the dip. S&P -2.6%, Nasdaq -4.2%, AI/semiconductors led the decline. Strong employment data crushed rate cut expectations again. This doesn’t mean the AI narrative is dead; it’s just that high-level trades are too crowded, so valuations and leverage are being hit first. Next week, I’ll be watching two things: whether NVDA/SMH can recover to the midpoint of Friday’s bearish candle; and if the rebound lacks volume, I’ll treat it as a correction, not the start of a new rally.