Markets are closed today — Fourth of July — but the pre-market tape doesn't care about your holiday.

Markets are closed today — Fourth of July — but the pre-market tape doesn't care about your holiday.

QQQ down 1.73%. Tech is bleeding before the bell even exists today. SPY holding at minus 0.13. Dow futures bucking the trend — DIA up 1.05. Small caps soft, IWM off 0.58. Gold up 1.81% — the flight-to-safety trade is real this morning.

Asian markets unavailable. No earnings. No economic data. Nothing on the calendar to bail anyone out.

Now the stocks.

TSLA down 7.49%, sitting at 393.45. That's the headline. Musk noise, sales pressure, take your pick — the chart doesn't care why.

INTC down 5.25% at 120.35. Semiconductor rot continues.

META down 4.90% at 582.90. Ad revenue fears or broader tech selloff — either way, nearly five points gone.

AMD down 4.26% at 517.82. Chips across the board are getting hit. INTC and AMD both red — that's a sector story, not a stock story.

AAPL up 4.84% at 308.63. Green while everything around it burns. Supply chain optimism is the working theory.

NFLX up 4.66% at 77.65. Subscriber momentum, earnings expectations — streaming holding its own.

AVGO down 2.41% at 360.45. Broadcom getting dragged with the rest of the chip complex. Three semiconductor names in the red on the same tape — that's not noise, that's a pattern.

COST up 2.92% at 951.67. Consumer staples catching a bid. Defensive rotation showing up.

WMT up 2.78% at 111.84. Same trade as Costco. When tech sells off, people park money here.

LLY up 1.86% at 1,213.91. Eli Lilly quietly holding ground while the growth names unwind. Healthcare acting like a safe harbor.

CRM up 1.76% at 166.11. Salesforce green on a red tape day. Enterprise software holding better than the broader tech complex.

MSFT up 1.62% at 390.49. Microsoft catching a modest bid. Interesting when TSLA and META are getting torched.

The read: tech getting crushed, defensives and consumer names catching flows, and AAPL somehow decoupling from the TSLA-META-AMD wreckage. The chip sector is the clearest story today — INTC, AMD, and AVGO all red, all meaningful. QQQ at minus 1.73 tells you where the pain is concentrated. Gold up nearly two points confirms traders are nervous, not just repositioning.

No VIX reading today. Markets are dark. But the futures tape is not.

Numbers don't lie. People do. Trade accordingly.