Not Enough Juice for the Euphoria Gambit

It appears as though some glaring weakness in tech and small caps today, alongside various other selling in the likes of CMG and DIS, is overpowering the rotation into biotech to spark some type of frenzy buying into July 4th. 

Intel, for example, below on the daily chart, is breaching $35 prior support and is now at risk of severely weighing (with its hefty market cap) on the chips as a group. Similar comments apply to QCOM and TXN. 

Overall, the combination of small cap plus tech weakness was enough to slow me down today on the long side. 

Nowe see if bears can seize yet another opportunity or, instead, the likes of INTC reverse back higher for a classic false breakdown.

More in my recap after the bell.