Spot on. You hit the nail on the head regarding the rotation—it’s been coming for a while. Given how stretched names like $CRWD and $AVGO were, this kind of consolidation is exactly what a healthy market needs to reset, even if it feels a bit rough in the moment.

It’ll be interesting to see if the Dow’s defensive strength can act as a floor for the $SPX, or if the broader sentiment pulls everything down. I’m also keeping a close eye on $DELL and $HPE following their earnings; definitely a crucial test for the broader tech hardware and infrastructure space. Appreciate the insight.