Mag7 split: NVDA/MSFT lag while NQ holds better than Dow
Posted: Tue Sep 08, 2026 6:42 pm
Afternoon tape note: indexes soft (Dow the weak link) while Nasdaq is relatively firmer — but inside Mag7, Nvidia and Microsoft were among the heavier laggards on the session wrap (~1.5%+ talk), so “NQ relative” isn’t the same as “all mega-cap tech is fine.”
How I’m reading it for scalps:
- Prefer relative-strength pairs (NQ vs ES / weak Mag7 vs index) over inventing a new macro story
- If NVDA/MSFT keep underperforming into the close, don’t force longs just because NQ isn’t as bad as the Dow
- Written invalidation > vibes — especially with PPI Thu / CPI Fri still ahead
Source: Reuters session tape (8 Sep 2026).
Is Mag7 lag a fade-the-leaders day for you, or just noise until the inflation prints?
Anyone trading NVDA/MSFT as the weak sleeve while leaving QQQ alone?
How I’m reading it for scalps:
- Prefer relative-strength pairs (NQ vs ES / weak Mag7 vs index) over inventing a new macro story
- If NVDA/MSFT keep underperforming into the close, don’t force longs just because NQ isn’t as bad as the Dow
- Written invalidation > vibes — especially with PPI Thu / CPI Fri still ahead
Source: Reuters session tape (8 Sep 2026).
Is Mag7 lag a fade-the-leaders day for you, or just noise until the inflation prints?
Anyone trading NVDA/MSFT as the weak sleeve while leaving QQQ alone?