If economic data is strong....rate cuts delayed ...market down.
If econkmic data js weak, investors worry earnjngs weak and cannot support the highe valuations....market also go down.
A few sessions ago when economic data indicated rate cuts are going to be earlier ...nasdaq and S&P500 sold.off...and small caps rose.
You think about jn the universe stocks for last 2yrs the fire power was in a handful of stocks like magnificent 7...(Microsoft, Facebook etc) the rest of the stocks minus India and Japa were all sideways. Rightfully so because high rates usually equal low stock prices. So this anomaly is being corrected. Investors are triggered by each set of economic numbers to act out this rotational trade.
Best bet is to short nasdaq buy puts for your nig tech stocks ....to protect yourself.
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I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.