In bubble cycles, leading stocks (AI stocks, semiconductor stocks) typically double in the last 6 months before the peak; technically, the semiconductor stocks (those 'selling the shovels') will turn over first, losing momentum before hyperscalers do. Watching semiconductor momentum is the key timing signal, not fundamentals.

normativepending

Speaker

Felix Zulauf

Evidence Quote

you follow those stocks and they tell you when it's over... you have to use technical analysis, market analysis

Source

Jeffrey Gundlach and Felix Zulauf: The Second Inning of a Major ShiftDoubleLine Capital
Created: 8/12/2026, 6:25:56 PM

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