Market Wrap: Enterprise Cloud & Software shaped the close

🇺🇸 The session closed with a late rotation into Precious Metals & Mining and the Cross-Sector Defensive Cohort, but caution remains as the broader market momentum shows signs of fatigue. The shift was confirmed by a rally in $ESE (ESCO Technologies Inc.) and related names like FTAI and VFC, which moved on the back of renewed interest in defensive sectors. The theme's strength was underscored by the start of new themes in Renewable & Utility Power, Industrial & Healthcare Machinery, and Commodities Futures, signaling a tentative rotation into more cyclical and commodity-linked assets. However, the previous flow shift into Enterprise Cloud & Software at 15:45 indicates market indecision and a potential for volatility ahead. The confirmed rotation into ESE and its peers suggests the defensive stance is still intact, but the next move hinges on whether this momentum can broaden beyond the top names. Watch for AVAV, AXON, CHE, CPRT, CVSA, and EMAT next session, as their participation will determine if the current rotation sustains or if the market stalls into the weekend.