Looking at the QQQ versus RSP, it shows that there is an out of tech rotation. Yet people blame the CPI for the sell off. If CPI was the issue, the market development up until October reading should have been much worse and consumer stocks (e.g. KO, JNJ etc.) would be going down too. Charting QQQ vs RSP vs SPY shows that RSP has been on the uptrend, while QQQ, which is driven by heavy weight techs on the way down. Therefore, contrary to the popular belief that CPI is the issue, it is a pure out of tech rotation that is hovering the market.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.