QQQ hit 718, not far from the previous high of 748. But NVDA is down 2.3%, MSFT down 2.0%, AAPL down 0.9%. The three major AI leaders got hammered on the same day. Index up, leaders down—this kind of structure is rare. Gold is also climbing, GLD +0.9%. Someone’s buying insurance. Doesn’t feel like a big deal, but the structure is definitely changing. Tech ETFs hit new highs, while big AI stocks all turned red. Worth taking a closer look.