Jun. 6 at 12:18 AM
Interesting tape today
While high beta tech and semis were getting hit, money quietly rotated into value and defensive quality names instead. You could see buyers stepping into healthcare, staples, payments, and select beaten down large caps like
$UNH,
$LLY,
$V,
$MA, and even
$NFLX holding up relatively well.
That usually tells me this isn’t full “risk off panic” yet. It looks more like institutions reducing exposure to crowded momentum trades and parking capital in stable cash flow names while waiting for clarity on rates and macro.
When leadership starts rotating instead of collapsing everywhere at once, it’s worth paying attention. Markets often give clues before the headlines catch up.
