The AI-fueled surge in semiconductor stocks is pushing the main US stock markets deeper into what increasingly looks like a classic melt-up phase. With very narrow market leadership and sentiment turning more euphoric, the rally may be entering its most explosive stage yet. Historically, these late-stage melt-up phases can persist far longer than expected. Is this the start of a final buying climax before a major reversal?
US stock market: From buying the dips to selling the rallies?
Thursday, 09 April 2026
There are signs that US stock market bulls are quickly gaining back control - the semiconductor index is already making new all-time highs. At the same time, there is a good case to be made for renewed price weakness over the coming weeks or months..
Announcement:Due to the author being out of the office, the next edition of the Technical Trend Outlook report will be published on Thursday May 7, 2026.
