Catching the Rotations Just Right

Another day, another rotation. 

The theme of this morning's rally seems to be the plethora of software stocks as well as medical technology names attempting to compensate for the abrupt energy weakness the last two sessions. Enterprise software names like NEWR and cybersecurity standouts like PANW jump off the screens, while medical tech leaders like ISRG run away to the upside. 

In addition, FANG broad market leaders like AMZN make fresh all-time highs as we head into another earnings season which officially kicks off tomorrow with C JPM WFC large cap bank reports, pre-market. 

In the meantime, we want to see if these rotations actually stick or continue to be slippery, as the energy move appears to be from last week.

Glaukos is a small cap medical device play, below on the daily timeframe. The Laguna Hills-based firm known for iStent surgery, for those suffering from glaucoma and cataract problems, has a chance to break out above $44 to set in motion a fresh leg higher before August 1st earnings.