Nigam Arora: SPX & NDX Money Flows — MU Earnings the Next Tech Test

Bullish Gator

Arora breaks down concentrated Mag 7-driven strength, fading market breadth across SPX and NDX, and previews Micron (MU) earnings as the next key test for tech.

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What stands out

Nigam Arora shows that the recent post‑Fed reversal left headline indexes propped up by a very small group of mega‑cap tech names, the Mag 7, while the rest of the S&P 500 (SPX) and Nasdaq‑100 (NDX) have fading participation. He parses visible money flows across the indexes and then drills under the surface to show market breadth waning even as prices rise. Arora highlights Micron (MU) earnings as the next concrete event that could reveal whether tech strength broadens beyond the few leaders.