On the Em-Dash Diet

I recently learned that AI makes frequent use of the "em-dash" in its various generated content. And while it is true that I have been toying with the AI meme (image) generator on Adobe of late, those of you who have followed me for years know I do all of my own work on a daily basis, including my frequent use of the em-dash. Thus, I may very well dial its usage back if I receive further slanderous claims that the content of my posts is AI-generated...or perhaps not. Some of the youngsters leveling those claims were eating applesauce in pampers when I penned my first blog post. 

As for the tape today, we have a slow-motion breakdown in the semis and South Korea headed into earnings season. Netflix reports tonight to kick off the tech portion of earnings for the next few weeks. It seems hard to believe that broad market volatility and overall selling pressure could intensify in the middle of summer.

However, that may be precisely what opens the door to such a move since it would catch many either long and asleep at the switch, or sidelined and waiting until September (or after the midterms) to short. 

In addition, another theme this week has been the hard unwinding action of the mature tech plays which skyrocketed earlier this spring and summer. IBM came crashing down on Tuesday to the tune of 25%. But also note INTC ORCL and a few others have been coming in steeply as well. Bulls are still looking for AAPL and a few other to hold rotations. 

But once again that is likely predicted on an orderly pullback in semis/AI which seems less likely upon further weakness from here, since that would mean many key support levels would be lost.