Rotation Example
When the market is down, stalling, or consolidating like this, leadership often shifts instead of disappearing.
QQQ looks heavy here and is pulling back within a broader consolidation. In environments like this, money tends to rotate out of higher-beta growth and into more defensive areas.
That’s why consumer staples often show relative strength during periods like this. As risk appetite narrows, capital looks for stability, not necessarily cash.
This is typical rotation, and the relative strength dashboard reflects it, with 3-month RS improving for consumer staples right around the start of the consolidation.
