I Was Wrong: The Broadening Has Barely Begun

The article says the rotation out of tech into healthcare, industrials, and financials points to a neutral S&P 500 phase rather than a trend reversal. It also notes that nine Fed officials are penciling in a rate hike this year, though the author believes the Fed may still hold rates. The message is broadly mixed and more relevant for market positioning and rate expectations than for any single stock.

Analysis

The article says the rotation out of tech into healthcare, industrials, and financials points to a neutral S&P 500 phase rather than a trend reversal. It also notes that nine Fed officials are penciling in a rate hike this year, though the author believes the Fed may still hold rates. The message is broadly mixed and more relevant for market positioning and rate expectations than for any single stock.