We are seeing some signs of it today, but follow-through next week is key, regarding a rotation out of some extended technology and consumer discretionary stocks down to the industrial/material/energy space. In addition, the small caps could see inflows as well. From my vantage point, the underlying health of this market almost rests on this possible rotation. Otherwise, we could be looking at a 3-5% price correction on the indices.
We also have end of month/end of quarter factors at play, but they will subside in short order.
Have a great weekend. I will be back with more analysis later.
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thanks, as always.
$GLUU….you were spot on with that setup.
Thanks Chess.
Yes, thank you very much for GLUU. Only wish I bought more.