Securing an attractive entry point is increasingly difficult unless the tech sector corrects after this week’s earnings — which would require a meaningful challenge to the AI narrative. That outcome currently appears unlikely, as companies can simply guide higher AI-related capex, and investors continue to reward that message. The S&P 500 remains stretched above its upper Bollinger Band at $6,833, signaling elevated pullback risk, with more attractive entry levels near $6,745 or the lower Band at $6,616 (Exhibit 1).
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