Thursday, July 18th, 2024OK, so we’ll stop talking about a market rotation. Today was an old-fashioned profit-taking session. We can look at why in a moment, but first the tally: the Dow shed -533 points, -1.29%, the Nasdaq sold off -125 points, -0.70%, the S&P 500 was down -0.78% and the small-cap Russell 2000 lost -1.67%. Over the past couple sessions, we’d been seeing something of a turnaround from tech-heavy buying to more cyclical stocks, but not today.There were no soul-crushing news items that led to ...