Tech is split right down the middle, and Sunday's tape isn't hiding it.

Tech is split right down the middle, and Sunday's tape isn't hiding it.

Futures first. SPY down 0.39%. QQQ up 0.18% — Nasdaq holding while the broader market softens. IWM up 0.28%, DIA down 0.53%. Dow lagging. VIX at 14.53, calm but not complacent. Gold off 1.38% — risk-off money isn't running to the metal today. Asian markets unavailable. No economic data on the calendar. Clean tape.

Now the stocks.

Tesla down 5.92% to 354.08. Largest drop on the board, no contest. Netflix down 5.35% to 78.25 — streaming hit hard. Those two names alone dragged sentiment. AAPL off 2.51% to 319.97. MSFT down 2.04% to 499.70. CRM slipped 1.97% to 259.23. Consumer and enterprise software both red — the selloff wasn't random, it was concentrated.

Now the other side of the ledger.

AMD up 4.69% to 477.57 — chips catching a bid. Intel up 4.51% to 95.80. Two chip names ripping while software sells off — the rotation inside tech is real and it's sharp. Oracle up 3.08% to 158.78 — cloud holding firm.

Semiconductors versus software. That's the trade today.

XOM off 1.69%, WMT down 1.18%, Alphabet dropping 1.17%, Costco slipping 1.04% — the red isn't just in tech. Energy, retail, consumer — it's a broad softening, and the only thing catching bids is silicon.

Earnings on the board this week — light slate. ALOT, BNR, BWTL reporting. CGNT with an EPS estimate of 0.089. DBI at 0.2576. FCEL reports before the open, estimate negative 0.421 — fuel cell company burning cash, that number says it all. None of these are market movers. Noise, not signal.

No macro catalysts. No Fed speakers. No data drops. The tape has to find its own direction, and right now it's telling you chips are the safe house inside tech.

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