A market can round-trip in three days. The argument that moved it does not. Last week's selloff ran on doubts about the AI trade. Futures opened this week reaching back for it. Whatever the price does from here, nothing about the underlying question got settled in between. Price tells you what positions changed. It does not tell you whether anyone changed their mind. Those are different clocks, and the slower one is the one that matters for what happens next.
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