What a strange trip it’s been! After breaking out of its June 20 to July 3 sideways movement, the S&P 500 ($SPX) index finally broke out to the upside–until it didn’t. That was on Thursday. Friday was a different story. After Thursday’s CPI report, the stock market reacted in a way that suggested investors were rotating out of tech stocks into other areas of the stock market. Could this have been a knee-jerk reaction to the cooler inflation data, combined with the market historically performing well during the first two weeks of July? Or was it something else? Whatever the case, it didn’t last long, which seems to be the stock market’s most typical behavior of late. Reactions tend to be big, but only last a day or two. This type of environment makes it more difficult for retail traders since it’s easy to get sucked into what others are…
