Rotation into small-caps, industrials and financials post-NVDA results is a sign of market strength. Still "summer of small-caps"

VIDEO: Today was a demonstration of the strength of this equity market as the largest stock fell and market broadened sharply led by small-caps (duration 4:51).

It is a sign of market strength that NVDA fell -6% post-EPS and yet the S&P 500 managed to gain, with stronger gains from small-cap stocks. As we noted earlier this week, the probabilities favored post-$NVDA results would trigger a rotation, rather than r...

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