Market Rally Continues: What's Next for Stocks and Tech?

Summary

Markets are surging towards all-time highs, led by semiconductors, but investors are closely watching key economic data this week. On Tuesday, expect Core CPI and the regular CPI reports, followed by PPI on Wednesday, and Core Retail Sales and unemployment figures on Thursday. Several companies have earnings this week, including Circle, Hymns, and Cisco. Technically, the SPY and QQQ show bullish momentum, with semiconductors like SMH up significantly. Key levels to watch for the SPY are around 736, while the QQQ is performing stronger, trading well above Thursday's highs. Tesla is showing signs of a bullish flip, and Nvidia is consolidating near all-time highs, with a potential breakout above 218. AMD, Intel, and Qualcomm are also strong performers. The primary focus for traders today is on semiconductors and memory stocks like MU, SNDK, and Intel, looking for continuation above previous day highs. Caution is advised ahead of major data releases like CPI.