The market is still holding up well, but leadership may be starting to shift under the surface.
In this video, I break down the rotation I’m watching between semiconductors and software, and why the recent weakness in names like AMD, SMH, MU, and others in the chip space may not necessarily mean the whole market is in trouble. I explain why semis may be getting a little crowded after such a strong run, how software names like IGV, Reddit, Meta, and Microsoft are starting to wake up, and why this could be more about money rotating than the market breaking down. I also revisit the oil versus airlines pairs trade and why, after a strong Fourth of July stretch, traders should be careful chasing extended moves without a pullback.
Your Profit Pilot,
TG Watkins
For a limited time, you’ll receive my 0DTE SPX Breakout Class free when you join the Moxie Indicator Mastery membership. It’s part of Simpler Trading’s 4th of July Sale, ending July 6th. Don’t miss your chance to save and learn how I approach SPX breakout trades.
