Indecisive - Tech Drag vs Fed Support
The market shows conflicting signals as QQQ declined 3.8% from Jan 29 to Feb 4, falling from 629.37 to 605.75. Meanwhile, SPY held relatively better, down only 1.1% to 686.19. The divergence reflects tech weakness offset by strength in financials, industrials, and consumer sectors. VIX rose from 16.34 to 18.64, indicating rising volatility concerns. Fed dovish sentiment provides underlying support, but technology's sharp selloff and choppy market breadth suggest cautious near-term sentiment. Expect continued sector rotation and volatility into February.