MAGS Lead Tech Rebound: Sector Rotation Signals Bullish Reversal vs Defensives

SmartReversals
03-06

$Roundhill Magnificent Seven ETF(MAGS)$

The magnificent seven are showing signs of a sustainable bullish reversal. The price bounced from the lower Bollinger band and the oscillator is curling up from oversold zone.

In parallel, tech $Technology Select Sector SPDR Fund(XLK)$ closed green while defensives declined today. Reversal Rotation. $S&P 500(.SPX)$

Over the last two weeks, I published two special editions on Sector Rotation. Rather than chasing the "Great Rotation," I anticipated that the trend was already overextended.

Tech is now reclaiming relative strength while defensives are under pressure…as expected. $Invesco QQQ(QQQ)$ $SPDR S&P 500 ETF Trust(SPY)$ $SPDR Dow Jones Industrial Average ETF Trust(DIA)$

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