That said, I’m not bearish either because the AI capex story is still strong. Instead of chasing, I’d rather wait for a pullback or some rotation to reset positioning before adding exposure. Positioning also looks crowded, especially in momentum trades, which increases the risk of sharp reversals.
I think laggards like healthcare or staples could catch up if conditions shift, but structurally tech leadership remains intact — it’s more about timing than direction. If yields stay elevated, defensives may see relative inflows. If rates ease, growth could re-accelerate and extend the rally.
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- icycrystal·05-06TOPthanks for sharing1Report