Rotation Out of AI/Chips & Tech Mega-Caps?
· Brutal intraday selloff followed by a rebound left technology, energy, and materials with negative breadths.
· The rest of the market looks fine, similar to Bloody Friday, but more pronounced in non-tech sectors.
· It does appear that investors are rotating out of AI and Semiconductors into other sectors.
· This rotation may last for a while, but eventually most sectors should head down into October.
