7-17-24 The Rotation Continues

Futures are pointing sharply downward this morning: After grinding ever higher for the past few days, it's inevitable to have a correction at some point. Not saying that's happening today, necessarily, but...markets are highly deviated and overbought. We need a pullback. S&P 5,510 is a potential test of the 20-DMA, so a day or two of correction is not outside the realm of possibility. The Russell Small-cap will likely continue to get some rotation into it. Even though the S&P has been grinding higher, it has been underperforming relative to small-caps. We've also seen a sharp decline in yields over the past couple of days, which is establishing a trend lower in yields. Remember, yields are the inverse of price; if yields are going down, bond prices are going up, and this is all occurring in advance of an expected Fed rate cut in September.   Hosted by RIA Chief Investment Strategist, Lance Roberts, CIO  Produced by Brent Clanton, Executive Producer ------- Watch the video version of this podcast: https://www.youtube.com/watch?v=6m1gmdLmwuU&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Get more info & commentary:  https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #SectorRotation #MegaCap #RussellSmallCap #BondYield #ProfitTaking #OverboughtMarkets #BuySignal #MarketBullishness #MarketCorrection #InvestingAdvice #Money #Investing