Core Viewpoint - Wall Street is experiencing a tech rout driven by AI valuation concerns, but there are opportunities for recovery through chart support and bullish seasonality [1] Group 1: Market Trends - Two tech ETFs, VanEck Semiconductor ETF (SMH) and Technology Select Sector SPDR Fund (XLK), exhibit bullish seasonality that may help mitigate valuation pressures [2] - SMH has an average return of 8% in November over the last decade with a 90% win rate, currently 7.2% off its record high of $372.78 [5] - XLK shows a 5% average return and an 80% win rate for November, with a potential to recover above $300 from its current position [9] Group 2: Technical Analysis - SMH has chart support at its 40-day moving average, while XLK has not breached its 50-day moving average since May [5][9] - Options for both ETFs are currently affordable, with SMH's Schaeffer's Volatility Index (SVI) at 38% and XLK's SVI at 26%, indicating low volatility expectations [10] Group 3: Key Holdings and Events - Both SMH and XLK have Nvidia (NVDA) as their largest holding, accounting for 19% and 14% respectively, with Nvidia's earnings report expected to significantly impact both ETFs [11] - The options market anticipates a post-earnings move of 9.9% for Nvidia, which could positively influence the performance of the ETFs [11] Group 4: External Factors - Consumer sentiment and potential government shutdowns pose risks to earnings reports, creating uncertainty in the market [12]

The stock is second on the list of the White's best S&P 500 (SPX) stocks to own in the second quarter, going back 10 years. The equity managed nine second-quarter wins during this period, averaging a hefty 12.1% gain. Amazon.com Inc (NASDAQ:AMZN) is headed for a 10.6% monthly drawdown in March, after a 10.7% drop in February. The blue-chip e-commerce giant hasn't logged back-to-back double digit monthly losses since 2011. Now trading at $189.78, at their lowest levels since October, the shares have taken a ...