Bloomberg reported last Thursday MSFT was going to start funding AMD for AI chip manufacturing. No sources were cited in the article. Since then, AMD has not confirmed and there was one report that came out today that MSFT was refuting the claims. Probably a false report but I haven’t been able to confirm that definitively yet.

Yes. NVDA is now the king (largest) of the semis & one of the largest components of the $NDX as well. Big negative divergences with the stock trading at the 290ish resistance now & they report earnings on May 24th. My guess is that will be the catalyst for a major trend reversal in the stock & if so, that should kick-off the next leg down in the semiconductor sector & the SOXX swing short trade.

It has negative divergence on Daily TF.
It has tested multiple times 290 level and I’m guessing if it breaks 290, next resistant level is at 348 which is 20% higher.

Since the beginning of 2022, the divergence has played out every time when it appeared on Daily TF!