A.M. Update
Happy Friday everyone. S&P futures are up +0.3%, NASDAQ-100 futures are up +0.2%, while Russell 2000 futures are up +0.4%. That smells like the day-to-day rotation from mega-caps to cyclicals. If the pattern observed all week holds, the cyclicals should outperform the mega-caps today, and the Russell 2000 outperform the NASDAQ-100. If that pattern holds….