FundFlow — Sector-Rotation Desk
DESK POSITION · FROZEN-LIVE
No position captured yet — the frozen-live record starts at the first daily capture.
building record0 calls logged · 0 matured · headline shows at n≥10
Frozen-live record began — · NO reconstructed pre-history · measured as excess vs SPY buy-hold · gross, before costs · price-derived tags, not executed trades, not actual fund flows
Where leadership is rotating
Price-derived sector leadership (RS + Rotation), not actual fund flows.
Biggest changes
No regime changes in the last 0 sessions.
vs 0 sessions ago · Strength = total move · Leadership axis is fast/noisy — a watchlist cue, not a verdict
Market breadth
Not enough history to measure breadth yet.
Today
Risk Rotation: Health Care Leads, Tech Lags as Large-Cap Growth Sells Off
Large-cap growth underperformed on 2026-06-26, with the Nasdaq 100 (QQQ) down 1.38% and the S&P 500 (SPY) down 0.72%, while the Dow (DIA) held better at -0.29%. Small caps diverged positively, with IWM up 0.31%, and the VIXY proxy rose 0.62%, consistent with a modest vol bid. Sector relative performance was distinctly risk-off: defensive areas led — Health Care +3.03%, Real Estate +1.46%, Consumer Staples +0.92%, Utilities +0.76% — while cyclicals and growth lagged, with Technology -1.87% and Industrials -1.59% the weakest. Within tech, single-name dispersion was notable: MSFT +5.71% and CRM +5.45% outperformed, but AVGO -3.67%, ORCL -2.58%, and AMD -2.06% weighed on the group. LLY +7.13% was the standout mover and likely a key driver of Health Care's relative strength. The pattern — large-cap growth down, small caps up, defensives leading — is consistent with a rotation rather than a broad de-risking, though the vol proxy uptick warrants monitoring for follow-through.
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