Tech companies losing momentum, Buffett rotating his portfolio, Amazon issuing debt, and technical support breaking down.

If everything seemed under control, this week's signs tell a different story!

2️⃣ S&P and Nasdaq break through the 50-day moving average after 138 trading days above average.

It was the most significant breakout since May.

Dow Jones fell 557 points in 3 days — the worst streak since April.

The technical structure that supported the rally collapsed.

3️⃣ Amazon issues $15 billion in debt and reignites warnings about the cost of the new phase of AI

The market interpreted this as a sign that growth continues — but it's not getting cheaper.

Capex now depends on bonds.

And the more capital they raise, the more uncertain the returns become.

4️⃣ Buffett rotates: buys Alphabet and reduces Apple

GOOGL rose 3.1% after Berkshire's announcement.

Apple fell 1.8%.

The focus of the movement: valuation.

It was practically the only thing to salvage in the session.

5️⃣ AI Stocks Begin to Give Back Some of the 2025 Rally

Today Only:

• Nvidia -1.88%
• AMD -2.55%
• Super Micro -6.37%
• CoreWeave -2.62%
• Oracle -1.34%
• Meta -1.22%

The correction remains modest compared to the accumulated gains — but the movement is beginning to expand.

6️⃣ Rally participation plummets — revealing the fragility of the rally

• Only 25% of S&P groups remain above the 10-week moving average

• 44% of stocks outperform the 50-day moving average

The rally was concentrated in the hands of a few.

7️⃣ Shutdown delayed data and increased uncertainty about the Fed

Without updated indicators, the market is in the dark.

The yield curve implies a 66% chance of a rate cut by January — but without conviction.

December is no longer a consensus.

The risk of error has increased.

8️⃣ Liquidations total US$4.5 billion this week — US$1 billion in 24 hours

Some large positions were forced to close.

Coinbase fell 7% on the day.

(Micro)Strategy falls more than 40% this year.

Technical pressure is starting to cascade.