Good Friday morning. 7 trading days ago our leading indexes hit extreme overbought levels, just as the S&P 500 and Nasdaq 100 hit all-time highs. From there, with the help of a seasonally weak second half of February (which ends today), it’s been a bloodbath in semis/tech and most especially in the Mag 7 stocks.

What’s going on? 

Markets correct…that’s the bottom line…this is a natural process of every bull market. And then there’s the "Trump Effect’, which includes tariffs and signs of economic slowdown along with these biggies, many of which impact the Deep State directly; DOGE (which will have an impact on economic growth, short term…plus, what will they find?), Ukraine-Russia (where did the money go?), Ft Knox gold (is the gold there?), plus the new hires at the Justice Department and FBI, who appear serious about uprooting corruption at the deepest levels of the Intelligence Community, Justice and Law Enforcement.

You likely saw this last night, from FBI Director Kash...