Maybe it’s a rotation instead of a top? Sure looks like it
It’s a very focalized sell off in terms of number of stocks, not capitalization. Big names that have run up and are now being sold off which takes the indexes down.
My shiny new strategy based on Sales Fitted Price Formula (and a few other filters) is up 2.7% today. INTU + 5%, EXLS +5%, PAYC +5%, etc.
But my cash account is down 1.8% bc it holds names like NVDA which I don’t want to sell or I’ll have a huge tax bill this year. I might hedge it. Not sure.
Cheers.