A rotation out of momentum-based technology trades into less expensive sectors like healthcare and financials represents healthy market broadening rather than weakness

"Risk-on momentum held up during a relatively quiet early August trading session, and two of the three main equity indexes made all-time weekly closing highs at its end. The broad-based S&P 500 was up 0.6% and 3.6% to 7,757, an all-time high."

"After one of the 'worst momentum selloffs in history,' Wilson said the style is rotating toward so-called quality shares with a stable earnings history."

"We're not seeing selling. We're just seeing money move from one area of the market to another. That's pretty healthy, right? That's what a bull market is based on."