$QQQ on track for its weakest up year since 2016 if it closes here. Four separate 10%+ pullbacks since Trump took office. Still technically a bull market, but this has been a grind.
The rally's getting tested. If you're long tech, you're dealing with chop, fake breakouts, and sudden reversals. Not the easy ride we had in 2023.
What this means: rotation risk is real. Big tech can't just coast anymore. Watch for sector shifts, defensive plays getting bids, and volatility staying elevated. Bull market, sure—but you need tighter stops and better entries now.
The rally's getting tested. If you're long tech, you're dealing with chop, fake breakouts, and sudden reversals. Not the easy ride we had in 2023.
What this means: rotation risk is real. Big tech can't just coast anymore. Watch for sector shifts, defensive plays getting bids, and volatility staying elevated. Bull market, sure—but you need tighter stops and better entries now.