Bloomberg Surveillance Credit Blowup in London Has Wall Street Chasing Billions
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Feb 27, 2026 Chris Verrone, Chief Market Strategist at Strategas Research Partners, mixes trend-based technical analysis with sharp takes on sector rotation. He explains a shift from growth to cyclicals, the wide software selloff and short-covering dynamics, market breadth versus headline indexes, and risks from private credit and potential contagion in recent London credit stress.
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Global Market Leadership Is Rotating Away From Mega Tech
- Global leadership rotation is underway from speculative tech to the real economy.
- Chris Verrone traces the shift back to September/October where equal-weight began outperforming the mega-cap Qs, signaling a durable transition.
Cover Shorts After Indiscriminate Software Selling
- Cover shorts and avoid loading up on panicked software longs right after indiscriminate selling.
- Verrone advises tactical short-covering after high-volume reversals but warns the longer-term software downtrend has not changed.
Index Calm Masks Intense Underlying Rotation
- Broad market indices can hide intense under-the-surface turnover and rotation.
- Verrone notes the S&P sat in a narrow range while daily turnover exceeded $1 trillion and many stocks diverged from index behavior.