Happy Sunday! Good to be back. Friday was my first day back in the saddle and I’m still working on getting back up to speed and in the swing of things as we begin to refill our idea treasure chest. I’m still working on talking to folks to get a pulse on sentiment/positioning as we head into earnings. For now, we’ll talk bigger picture and then get into GOOGL earnings preview below.
Big news out this weekend is Biden dropping out and endorsing Harris…In terms of Trump’s chances, Harris has roughly polled the same as Biden in h2h match-ups so unclear if it makes a big difference, though it’s possible it creates some turbulence in the recent “Trump Trade”…
Ok let’s get to it…
Bigger Picture: Major Rotation + pull back in the QQQs
The big story this week was rotation out of winners and into losers with the QQQs -4%, SOX -9%, and IWM +2%.
For several months here at TMTB we have been writing about a potential pullback/consolidation in the QQQs/semis in the mid/late July through August/early S…
Keep reading with a 7-day free trial
Subscribe to TMT Breakout to keep reading this post and get 7 days of free access to the full post archives.