US indices diverged: the Dow surged ~1% while the Nasdaq fell, as AI fears crushed semiconductors and rotated into Healthcare and Staples. Breadth was strong — 75% of S&P 500 stocks rose — but tech's heavy weight masked the move.
US market temperature sits in neutral territory — driven mainly by elevated valuations (near the 85th historical percentile), with breadth near the middle (around the 50th historical percentile). No single catalyst stood out today; the market is searching for a fresh direction.