Another day with all 11 sectors trading lower.
Energy Sector (XLE) leading the way, while the Technology Sector (XLK) is getting railroaded
Still Tech holding this market up. Semis trading higher, everything else, minus small caps, trading lower.
Only Russell 2000 (IWM) is showing any real leadership under current market conditions. Everything else is simply circling the S&P 500 (SPY).
There isn't much creativity in this market. Claim improving trade relations and rally the Mag 7 stocks.
Technology Sector (XLK) still dragging this market higher, led by the one, and only, Nvidia (NVDA)
If you aren't AI related, then you are lagging.
Big Tech is out and the everything else crowd is back in!
Tech is starting to lag the market which could indicate this market has run out of the momentum it sustained off the April lows.
Tech looking like it wants to take over market leadership from Utilities.