📊 #BITDailyChart# | Nasdaq at a Crossroads Momentum has turned negative for the Nasdaq following the postponement of OpenAI’s IPO, the end of “tokenmaxing,” and growing pressure from lower-cost Chinese open-source LLM alternatives. Yet from a technical perspective, the index has reached oversold levels that have historically preceded a rebound or renewed uptrend. While we continue to lean toward an ongoing correction, technical reversal indicators suggest that a potential turning point may be near. Disclaimer: This content is provided by a contracted analyst for informational purposes only and does not constitute investment advice. Investing involves risk. #BIT# #Nasdaq# #OpenAI# #ArtificialIntelligence# #TechStocks# #TechnicalAnalysis#

Tech stocks are driving a historically large portion of market earnings: $AMZN, $GOOGL, $META, and $MSFT contributed ~34% of the S&P 500’s YoY EPS growth in Q1 2026, making them a key driver of profit growth for the index. At the same time, semiconductor companies accounted for another 31%, while all other companies in the index contributed just 36%. In other words, those two groups accounted for 65% of the S&P 500’s earnings growth in Q1 2026, up from 52% in Q1 2025. Looking ahead to the current earnings season, semiconductor companies are estimated to increase their contribution by +17 percentage points in Q2 2026, to a record 48%. Meanwhile, the contribution from $AMZN, $GOOGL, $META, and $MSFT is expected to fall -25 percentage points, to just ~9%. Earnings growth leadership is shifting toward the semiconductor sector.

Tech returns are nearing 2000 Dot-com levels: The information technology sector has returned an average of +9% per year over the last 10 years, the best performance of any US sector. This annualized return has doubled since the 2020 pandemic. This also matches the peak performance of the communication services sector during the recovery from the 2008 Financial Crisis. By comparison, tech stocks delivered a 10-year annualized return of +13% during the 2000 Dot-Com Bubble. The IT sector has now been the best-performing US sector for 7 consecutive years, the longest streak since the 1960s. Tech continues to rewrite market history.

Tech stocks are experiencing one of their most volatile periods in history: The ratio of the Nasdaq 100 volatility index, $VXN, to the S&P 500 volatility index, $VIX, is up to 1.7 points, the highest in 23 years. This marks the first time since 2018 that the ratio has surpassed 1.5 points. By comparison, during the 2008 Financial Crisis, this metric peaked at ~1.6 points. This comes as $VXN stands at 28 points while the $VIX is at 16 points, or 43% lower. $VXN has now been above 20 points for 5 consecutive months, the longest streak since the 2022 bear market. The market is pricing-in severe volatility in tech.

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If America’s tech stocks lose more of their shine, its economy could be in trouble. These days, the dollar’s status as a haven owes much to how ravenous foreign investors are for American shares

Corporate insiders are buying tech stocks at a record pace: 28 executives at companies within the US technology sector ETF, $XLK, have purchased their own stock on the open market over the last 6 months, the highest count on record, according to SentimenTrader. This figure has DOUBLED since the start of 2026. This also surpasses the previous record of 25 insiders set in 2011. By comparison, in early 2025, just 5 executives were buyers. US executives are rushing to buy tech stocks.

Volatility among tech stocks is historically elevated: The gap between the Nasdaq 100 volatility index, $VXN, and the volatility index, $VIX, is up to 12 points, the highest in at least 23 years. The difference has more than tripled since the start of May. This comes as $VXN surged +9 points or +43% over this period, while $VIX rose just +2 points, or +9% at the same time. By comparison, during the 2008 Financial Crisis and the 2020 pandemic, the gap peaked at 7 and 11 points, respectively. Put simply, investors are pricing in significantly more uncertainty for technology stocks than for the broader market. Market volatility is here to stay.