Funny all the down votes to this, but not one comment to dispute it. I’d love to hear what you guys actually think!

My macro outlook for anyone interested: I believe the strength in precious metals this year, as well as in Mag7, is an expression of the anticipation of slowing economic growth. Mag7 seems nowadays to act more as a “defensive” trade than “speculative.” I think the probability is high that other defensive sectors (XLU, XLV, XLP) catch a bid and find strength during any pause or pullback in Mag7 and metals. As data begins confirming slower economic growth, I think growth-sensitive sectors will remain a better short than the Mag7 dominated indexes in the near term. But eventually slower growth should show up in Mag7 earnings projection, and that’s when we could get that sharp pullback in QQQ and SPY that you’ve been looking for. In the mean time, frontrunning that possibility before actual earnings data confirms it could still prove dangerous and potentially detrimental to one’s P/L.