Big Tech has a lot of work to do here

Big Tech Has Its Work Cut Out Here at These Highs
By Gianni Di Poce

We hit fresh all-time highs after Trump announced a trade deal with the EU, but after those bullish headlines… it’s been a steady fade ever since.

Sure, it’s possible all the good news has been priced in, but with semiconductors still leading, I’m reluctant to sound the alarm here.

In the near term, all eyes are on big tech earnings. I’m especially watching for a potential rotation into some of the more beaten-down names in the Magnificent Seven — Tesla (TSLA) and Apple (AAPL) come to mind.

If they don't catch a bid soon, we could be in for a choppier August.

That said, there’s real opportunity brewing in biotech and some of these setups are starting to look compelling.

Interestingly, bonds and crude – two bellwethers – are both getting bid today, but that usually doesn’t last. One of them is going to blink, and when that happens, it could tell us a lot about what’s coming next.

Let’s look into it…

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