NVDA Posts 2nd Highest Weekly Close Ever While PLTR Goes Beast Mode
YouTube's chart watchers and AI skeptics are telling two very different stories about where tech goes from here
Ticker Ratings
The charts are sending a loud message right now, and it is mostly bullish with one glaring asterisk. According to TheChartGuys on YouTube, the S&P 500, XLF, XLV, and Utilities all hit all-time highs in the same week, while $NVDA posted its second highest weekly close in history, breaking through a major resistance wall with a monthly bull flag still intact. That is not a quiet week. That is a market in a mood.
$PLTR also had what TheChartGuys called a "beast mode" earnings-driven move, staging the kind of price action that makes bears quietly close their tabs. Meanwhile, the broader NASDAQ lagged the party but held a daily higher low and flashed a potential bull flag, which means the structure is intact even if the energy is softer.
Here is the asterisk, though. Semiconductors are bifurcating in a way that matters. Memory stocks, specifically DRAM names including $MU, are the key laggards. TheChartGuys noted that SMH needs a weekly bounce in memory to fuel another leg above the 50% retracement level. Without it, the semis rally stays narrow and fragile. Narrow rallies have a habit of becoming ex-rallies pretty quickly.
On the skeptic side, Andrei Jikh's YouTube channel is sounding a note of caution on the AI investment thesis. The argument, which is genuinely worth sitting with, is that credit markets may not be accurately pricing AI risk, just as they failed to price mortgage risk in 2007. The specific fear: a major hyperscaler eventually pulls back capex, and because tech is a follower culture, a cascade follows. One company blinks and suddenly everyone is reconsidering their $50 billion data center pipeline.
So you have charts screaming bull and macro skeptics whispering 2007. Both of these things can be true at the same time. The question is your time horizon. Right now the momentum belongs to the bulls. $NVDA breaking resistance with a clean monthly flag is not something you dismiss because a podcast made a credit-spread analogy. But you probably want to watch $MU closely, because if memory keeps dragging, the semiconductor story starts looking a lot more like a two-stock rally than a sector renaissance.
A rising tide lifting only two boats is still technically a rising tide. Until it is not.