Saturday Reflection 🧠 This week taught a masterclass in sector rotation under pressure. $SPY closed at 737.55, down 2.6% on the day and 2.8% for the week. But that headline number masks the real story beneath the surface. Tech got crushed. QQQ fell 4.8% Friday alone, -5.1% weekly. NVDA -6.2%, AMD -10.9%, SMCI -11.2%, SNDK -11.4%, DRAM -15.1%. The AI trade that dominated 2025 is being repriced in real time. Crypto wasn't spared either. BTC at 60,554, down 9.2% weekly. ETH collapsed 16.4%. Miners like MARA -17% and IREN -16.8% bled out. But here's what's interesting — the banks held. JPM actually gained 5.3% on the week. WFC +6.2%. XLF +1.7%. Money rotated from momentum into stability. Gold pulled back 3.1% to 4,337, silver cratered 6.6%. Even safe havens aren't safe when margin calls hit. The lesson? In risk-off weeks, correlations spike, then diverge. The first move is indiscriminate selling. The second move — where money actually goes — tells you what the market really thinks. This week, it thought: own cash flows, not promises. ⚠️ Not financial advice. Educational purposes only.