Over-Rotating In The Rotational Correction

2026-02-19 08:52:37 ET

Investors bought the dip of the past few days, looking for bargains, despite the release of the minutes from the latest Fed meeting, which suggested some board members see rate hikes as more likely than cuts. I think that is very unlikely, which is why the market looked the other way. Energy and materials led the charge on the tailcoats of higher oil prices, while the technology sector rebounded on news that Meta Platforms plans to buy a gazillion chips from Nvidia over the next several years. The most important reason for the market’s rebound was that we had some better-than-expected economic data....

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