Wall Street had a huge rally, but the follow-through isn’t looking so strong.

S&P 500 futures were mostly flat Thursday, while Nasdaq futures slipped as chip and data center stocks came under pressure. $QCOM dropped more than 10% after disappointing sales guidance, while $NVDA, $MRVL and $INTC also moved lower. Investors are now weighing AI infrastructure concerns, upcoming earnings and Friday’s jobs report.

I’m watching $NVDA, $AMD and the broader tech trade closely. The big question is whether this is just a pause after the rally or the start of a deeper pullback.

Are you buying this dip or waiting for a clearer signal?