DailyPlay Update – Rotation Into Value – June 10th, 2020
S&P 500 Market Outlook: Bullish
Market Overview: After a spectacular run over the past couple of weeks from cyclical sectors, the market has taken a pause to breathe. Momentum needs to bleed off and rotate into more defensive sectors for a healthy market to continue higher. During our morning outlook session, we discuss the health of the market rally and specific sectors to watch during this rotation. We see potential leadership from value sectors over the next few trading sessions to weeks.
DailyPlay Update: With the market pause, we are taking a pause from entering fresh long positions in these overbought conditions. We maintain holding our long positions in CSCO, WDAY, T, DG, and ZM for further market strength and upside.