The NASDAQ also punched to new highs after triggering a great technical buy signal at the start of the month – what made the trade even better was it was with the long-term bull trend. There was also a sharp reversal in the previously unloved software stocks helping push the broader tech sector higher. As subscribers know MM believes the market had become way too bearish around the “AI Disruption Trade.” We believe AI will indeed reshape industry over the coming years but some companies that the market are priced for disruption will actually become beneficiaries, and vice versa.
We don’t have to look too far to realise how fast the industry will evolve, for better & worse:
OpenAI has recently shut down its Sora video-generation app less than two years after launch, winding down its ~$1bn content partnership with Disney, as it pivots away from video AI. The company said it will refocus on higher-impact areas such as robotics and “agentic” AI, signalling a shift toward real-world, task-oriented applications rather than consumer video tools. Not a cheap pivot but we expect many mores huge sums of money are thrown at getting in front of the crowd in the AI revolution.
- We are initially looking for the NASDAQ to extend its bullish breakout through 2026.
MM is bullish towards the NASDAQ around 26, 600
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