Tech Bounces Back: Is this a Rotation or Just Consolidation?

Rigatoni Capital Podcast · Jul 9, 2026 · 31m

Tech and semiconductors bounced this morning, which has everyone asking whether the great rotation is real. Caitlin McCabe at the Wall Street Journal is pointing to equal weight beating market cap weighted year to date as proof, but the gap is small and I think it is too soon to call a new long term regime. My take is that we are really just consolidating. The Nasdaq 100 is sitting right where it was in late May, and once you look back you will probably see the market did nothing for a few weeks in the middle of July while everyone is distracted by the World Cup. I also cover the China news…