Ulli... The ETF Bully·2025-11-03 21:39Market Overview - The Nasdaq was the only major index to close in the green, driven by significant AI-related deals, particularly Amazon's 4% increase following a $38 billion partnership with OpenAI, which will involve substantial purchases of Nvidia GPUs [1] - Chip stocks experienced a surge, with Iren rising 19% after securing a $9.7 billion multiyear deal to supply Microsoft with Nvidia's next-gen GB300 GPUs, while Micron, Nvidia, and the VanEck Semiconductor ETF also saw gains [2] - Despite the tech sector's strength, over 400 S&P 500 stocks closed lower, indicating weak market breadth, even as the S&P 500 managed a slight gain [2][3] Earnings and Market Sentiment - Over 80% of companies have beaten Q3 earnings estimates, but the market's enthusiasm is concentrated on a few major players, suggesting a lack of broader participation [3] - Upcoming earnings reports from Palantir and AMD are anticipated to further influence market dynamics, particularly in the AI sector [3] Bond and Commodity Markets - Bond yields increased as the likelihood of a December rate cut diminished, while the dollar strengthened; gold prices dipped but recovered above $4,000, and bitcoin approached $107,000 [4] Trend Tracking Indexes (TTIs) - The Domestic TTI closed at +4.77% above its moving average, while the International TTI was at +10.31% above its moving average, both indicating a "Buy" signal effective in May 2025 [8][9]