Tech is starting to lag the market which could indicate this market has run out of the momentum it sustained off the April lows.
Semiconductors are showing weakness and Tech is following.
Technology is even diverging from Semis which is an interesting development.
Tech looking like it wants to take over market leadership from Utilities.
Rumors of Jerome Powell being fired led to a fury of call buying in SPDRs Technology Sector (XLK)
Technology and Small Caps are the market leaders.
Tech remains the kingpin of the stock market.
Energy already getting railroaded, while the only industry that really matters is semiconductors.
Semis and Energy are holding firm to this market. Healthcare and real estate trying to make a play here, but I'm not sure it lasts.
Heavy rotation appears to be happening with tech related stocks.