PremiumIn a somewhat rare pre-market note (available here for pro subs), Goldman Sachs top TMT Specialist, Peter Callahan, dropped a 'sentiment check' discussion as Nasdaq futures open ugly led by heaviness in large-cap Tech (NVDA, GOOG, AMZN types down ~2%), balanced by little pre-market bounce across the Memory complex early (SNDK, MU, STX off pre-market lows).While overnight narratives centered around Kimi 3 (the latest open-source model), Callahan warns that it feels like markets have been about balancing ongoing Momentum pressures against increasingly complicated market narratives inclusive of a clear ‘broadening out’ dynamic.