美国 Holiday Market Thoughts Semiconductors got wrecked on Friday: SMH -4.5%, SOXX -5.6%, but the Dow Jones managed to climb 1.1%. To be honest, I didn’t expect semiconductors to drop this hard this week. QQQ fell from 725 to 712, NVDA went from 197 to 194. Doesn’t seem like much, but SMH dropped nearly 30 bucks in just five days. One observation: before the holiday, money flowed out of tech stocks and into those old-school Dow Jones companies. Looks like the July 4th fireworks went off on the bears’ side. What’s the outlook for next week? Honestly, I have no clue. Is this semiconductor dip just profit-taking or the start of a trend reversal? We’ll only know when the market opens on Tuesday. But one thing’s for sure—I’m not going heavy in any direction before a long weekend. Biggest lesson of the week.