Learnings and conclusions from this week’s charts:

1. The S&P500 has rebounded to a key overhead resistance zone.

2. Semiconductors meanwhile are already out to new all-time highs.

3. Tech stocks have seen a reset comparable to that of April 2025.

4. The tech sector is driving overall profit margins to record highs.

5. Tech stock valuations are still elevated (raising some questions).

Overall, it’s been a textbook rally from oversold conditions. The next steps will be key as overhead resistance looms (with risk shadows lingering in the background vs tech strength stirring).

(click through to charts 👇)