Rotation to Value As The AI Narrative Get Some Bad News

1:12 p.m. ET Market action today is something of a flip-flop, but also in-line with yesterday’s moderate 1-day overbought internals. The Dow outperforms, while the Nasdaq-100 underperforms. The three mega cap-heavy sectors that led yesterday are out of favor today with the Tech sector down the most (-0.9%). Procyclicals like Energy (+1.8%) and Defensive countercyclicals…