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levi.stern95
Jul 7, 2020 11:21 PM

$ES_F hourly chart: the slow grind upwards continues 

E-mini S&P 500 FuturesCME

Description

nasdaq needed a breather and an eod sell-off is healthy in the midst of a bullrun - profit taking on stocks that have run up some 50, 100, 200, even 400 & 500% in less than half a year. May see a rotation start to happen slowly but surely... stks like COST that have been quiet... WMT today with the pop on their news is a catalyst for the consumer staples and consumer discretionary sectors (XLP XLY)... see if names in XLY can outperform AMZN for the next week and half. If WMT can do so that shows a possible rotation from growth which saw HUMONGOUS gains to more value names that haven't moved comparative to their counterparts.
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