Tech Wreck: Ain't Nothing But a Chicken Wing on a String

...but not from Burger King. 

Another morning of tech unwinding in a rather pronounced manner, this time with Micron (MU) down more than 8% and many other tech plays in the QQQ ETF likely being sold by institutional types back at their desks after summer vacation, is an obvious blemish on the tape so far this morning. 

However, the sector rotation game continues to be a weapon of the bull, as many of the industrials we looked at yesterday are pushing higher yet. 

Beyond the industrials, the financials we looked at on Tuesday are pausing after a nice two-day run.

But select consumer names are still quietly flourishing. Habit Burger (HABT) seems to be acting like a bonafide turnaround story. And Wingstop was already further along that path, anyway. 

On the WING daily chart, below, you would never guess that QQQ was under the type of pressure it has been the last few sessions. This is a high and tight consolidation threatening to squeeze the many shorts in the float higher yet. 

WING has tremendous potential growth ahead of it across the nation, and may be in the sweet spot in terms of its mostly carry-out style of fast-casual, appealing to consumers with a lower price point (not unlike HABT in the burger segment). 

Circling back to tech, we do not want to engage in hyperbole regarding this overdue dip--It is simply part and parcel of virtually any market. But the rotation threat, as long as bulls maintain it, is still keeping the VIX subdued and broad market bears at bay.