It looks like the AI mania fever is about to break. My call yesterday for SMCI to top, either yesterday or today, appears on target, with today’s opening gap higher and reversal.

The real fun should come next Wed. when NVDA reports fantastic blowout earnings after the close, and the stock tanks, either just before or soon after.(By the end of next week’s trading it and SMCI should both be down sharply from their respective highs.)

If so, it’s most likely, the NASDAQ 100 will be headed sharply lower, as well. That should mark the end of the AI mania bubble. The technology will be revolutionary and increase productivity going forward, but the stock market hype appears to have run it’s course for this cycle.

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