Monday split the tape clean down the middle — chips up, everything else bleeding.

Monday split the tape clean down the middle — chips up, everything else bleeding.

Netflix down 4.67%, sitting at 71.79. That's the session's biggest loser and it's not close. Meta off 2.43% at 665.75. Salesforce dropped 2.03% to 237.92. Oracle slid 1.98% to 147.61. The software and social names had a rough one.

Now the other side. Broadcom up 2.97% at 357.61. AMD gained 2.7% to 559.82. Nvidia added 1.34% at 222.27. Amazon tacked on 1% to 253.71. Semis held the line while everything else cracked.

ETFs tell the same story. QQQ up 0.63% — tech heavyweights pulling their weight. SPY barely negative at minus 0.12%. Small caps took the hit. IWM down 0.47%. Dow off 0.48%. Broad market finished soft, but the Nasdaq escaped.

VIX at 14.81. No panic. Gold flat, off 0.14%. Nothing macro screaming from either of those.

No economic calendar today. Nothing scheduled. The data isn't moving the room — price action is.

Earnings on deck. AutoZone reports before the open Tuesday — EPS estimate 54.80, one of the higher dollar estimates you'll see. Miller Knoll also pre-market, estimate 36 cents. Ferguson reports, estimate 2.48. After the close tonight, AYTU and KBH. KBH estimated at 90 cents — homebuilder earnings matter right now with rate sensitivity in the conversation. Watch that one.

Asian market data wasn't available overnight, so no lead-in from that direction. You're walking in without a global read. Price action from Europe and futures are your early guides.

Bottom line on the session — semiconductors showed up, software got sold, small caps underperformed. The divergence between QQQ and IWM is worth watching as the week develops.

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