The stock market is being driven by an AI bubble, and there are some concerns that the AI bubble could pop soon. I personally don’t think that is the case, but this is a key narrative being discussed. Nvidia became the largest publicly traded stock for a brief moment, which has an eerie similarity to Cisco at the peak of the dot com boom before the markets crashed. I think there could be a crash in 2024, but I remain bullish on July and August. QQQ has been showing a lot of bullish strength over the past few weeks, and there is resistance at the yellow trendline near all time highs. I would monitor for some continued upside above $487.50.
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