Big Round Top and Little Round Top

Shares of both Ford and General Motors are rallying sharply today and, frankly, look more technically appealing than they have in recent memory.

This move is in no small part due to Tesla's trials and tribulations, namely the potential fallout from a Trump/Musk feud which intermittently alternates between being schoolyard amusement and downright impactful on the global economy. 

First, on the TSLA weekly chart, updated, below, we have a big round top and a little round top (highlighted) which only Joshua Chamberlain could love. Simply put, Tesla, news or not, rift or not, is on the cusp of a full-blown rollover in an ongoing major bearish trend, unwinding prior years of momentum. 

As for Ford and GM, just as we are seeing with the small caps in general today bulls are foaming at the mouth for the big rotation as everyone knows tech is extended, even the most steadfast bulls. The critical issue, of course, is whether these rotations can hold. In late-2007, for example, I can assure you there were plenty of no brainer rotations as well...which petered out into the end of that calendar year. 

But with names like HIMS PLTR NVDA TSLA unwinding a bit today, these non-growth rotation sectors had better ignite some serious momentum, and fast, if they hope to truly fill the void of the crowded hot money leaders.