The View from 5th Avenue – 4 February 2026

Where to even begin today…Both the S&P 500 and Nasdaq struggled to find their footing throughout the session, what started out as relatively quiet morning turn negative quickly with weakness in software and tech once again. There seems to be a healthy dose of AI skepticism growing in the market with the semis on track for its worst day in 3m. The SOX fell more than 4% with its next support level at the 200d (7392) which is only 2% below current level, a breakdown of this support would flash war…

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