Mixed picture but bulls fighting backS&P 500SP_DLY:SPXhilsdentradingThe broader uptrend remains intact, but the internal picture is becoming much more mixed. Technology continues to dominate sentiment, and overnight futures have come under pressure following another sharp decline in semiconductor shares amid concerns over AI investment and valuations. That doesn't necessarily mean the S&P is about to roll over, but it does suggest the easy part of the rally may be behind us for now. What I'm Watching Whether futures can defend yesterday's support. The reaction of semiconductor stocks after the US open. Any improvement in market breadth beyond the mega-cap names. Trading Plan I still favour buying retracements, but only after confirmation. If buyers continue defending support, I think another move towards the highs remains achievable. If technology weakness spreads into the broader market, I would rather wait than force long positions.