The Dip Healed in a Day. Now the Market Is Asking a Harder Question.
Friday everyone was bracing for the worst. The market had finally cracked after nine weeks straight up, and the fear was that the SPCX cash drain was the start of something bigger. It was not. Before Monday’s open Jensen Huang told investors in Seoul they should be excited about the pullback, that it was a buying opportunity, and the market obeyed: Black Friday turned into White Monday in a single session. The SPCX cipher effect lasted exactly one day.
So the focus has already moved past the dip to a harder question the edition puts on its very first page. Jensen keeps repeating, from Taipei to Seoul, that AI will not cut jobs but create them. The evidence on the same page says otherwise. HSBC is weighing up to 20,000 cuts, Mizuho is replacing 5,000 clerical roles with AI, and fresh graduates now face an AI interviewer before they ever meet a human. Then Anthropic published the line that stops people cold: its Claude model wrote over 80 percent of the code merged into the company’s own production system. AI is no longer just doing jobs. It is starting to build itself.
The second layer is the rate clock, and it just got a new keeper. Warsh chairs his first Fed meeting on June 16 and 17, with Trump publicly insisting a rate hike would be a mistake. That is the next real catalyst, because the strong 172K jobs print that calmed the bubble fear is the same number that could pull a rate hike closer. Good news for jobs is still bad news for rates.
The warning is in the gauge. Even after the rebound, Fear and Greed sits at 42, still inside the Fear zone, down from 56 a week ago. The bounce was sharp but the nerves did not reset. The discipline does not change: do not chase the record high, buy only what refills a gap or sits under its 250-day line, and if you need to stay invested without getting hurt, DIA and QYLD pay monthly and DIA simply is the market.
The focus today: the dip is already over, so watch the Anthropic jobs question and Warsh’s first meeting, because those, not SPCX, decide the next leg.
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About the Author
Daniel Yue has been an active investor since 1980, with experience spanning stocks, currencies, futures, metals, and bonds. A scholar of the Chicago School of Economics, he holds a Certificate with Distinction from Cambridge University and a degree in International Trading from National Taiwan University. He served as Chief Analyst for over 30 years and Chief Mentor at Sincere Finance. In 2017, he received an award from the University of Arizona for financial internship leadership.
The analysis and opinions expressed in this article are for educational purposes only and do not constitute financial advice. Investing involves risk. Please consult a qualified financial advisor before making investment decisions.
About the Author
Daniel Yue has been an active investor since 1980, with experience spanning stocks, currencies, futures, metals, and bonds. A scholar of the Chicago School of Economics, he holds a Certificate with Distinction from Cambridge University and a degree in International Trading from National Taiwan University. He served as Chief Analyst for over 30 years and Chief Mentor at Sincere Finance. In 2017, he received an award from the University of Arizona for financial internship leadership.
The analysis and opinions expressed in this article are for educational purposes only and do not constitute financial advice. Investing involves risk. Please consult a qualified financial advisor before making investment decisions.