The last couple of weeks have been brutal for the market, especially for AI-related stocks. The Nasdaq Composite closed at 20,948.36 on March 27, 2026, down over 2% that day alone, extending a painful correction.

In my previous video I warned we might see a significant correction or even bearish pressure. Today I want to share my updated thoughts on where we stand and what I expect going forward.

As a retail trader, my bread and butter is the short-term: momentum, technical breakouts, and rapid execution. But surviving in the markets requires periodically stepping out of the trenches. It requires adopting a contrarian, long-term philosophy—akin to the legendary Ken Fisher—that forces you to question the prevailing noise, look at market history, and spot the macro risks that everyone else is too euphoric to see.

Right now, the market is blindingly euphoric about Artificial Intelligence. But if you zoom out and look closely at the financial engineering funding this boom, you’ll spot a massive elephant stomping around the room: SoftBank Group (SFTBY).