Pattern repeating Nov/Dec sell off covered since June 9 is still on the table despite Thursdays selling.
Thought a rotation out of growth may occur on the heels of Bank news after close(Wednesday)
Premarket
"They can co-exist $IVX and $IGX Value /Growth- if thinking rotate on banks headlines - $BKX $QNET $QQQ $XLF
Unfortunately $ went out of growth, but did not rotate into Value and this snowballed into a broad sell off once realized. ($IVX -1.26% and $IVX Value -.36%)
"There's that Naz -50 thinking"
"Naz -100, Mkt forgot to rotate into Value off Banks news after initiating rotation out of growth $IVX $IGX $BKX $QNET $QQQ $XLF"
-50 ---- -100------- became -150 Nasdaqs
Reason the pattern is on the table is the peak to troughs in the QNET (home of FANGS).
Leg 2 is no worse vs. Leg 1, yet -5.8% is nasty enough with earnings around the bend.
