$SPY $SPX $QQQ $XLK $SMH $SOXX Valuations and fundamentals matter. Always have , always will 🎯 When you get dislocations like this (see images below) $COST trading at a 45.5 forward PE while $NVDA sits at 16x it’s just a matter of time until capital starts acting and moves back to where it has a better chance to compound. Growth names usually trade at a premium to steady compounders for a reason. This "norm" is inverted now 🤔 Capital is opportunistic. That’s the real spirit behind rotations. It leaves one host (sector, themes) for another based on the environment that host is offering. Valuations are the environment. Right now $NVDA looks like a nice host. Right now $GOOGL lookslike a nice host. Right now $AMZN looks like a nice host. Get it ? 😉 It’s a matter of time. 🤝 Happy weekend 💚