Does Tech Dominance Create Systematic Market Risk?

Market are owned by TSLA and NVDA–

-Financials down 1%

-Energy off 3.9%

-DOW off 230 points

-Spuz massively unchanged!

-Even AMZN and GOOGL down did not negatively impact NASDAQ

-internals and overnight /ES trade do not matter!

-massive rotations may take place if big tech sells off

Profound Market Moves–

-QQQ

-IWM

-TSLA

Markets Bid Risk Assets–

-Da FED

-Big boy skew – good for premium selling!

-Bonds

-Dollar

-tightened my delta

SPX Expected Move

–last week– 60.41  (expected move)

–next week– 54.75

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