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Cover for Joel Elconin - Market Pullback, Tariff Tensions, and Defensive Rotation - A Technical Breakdown

Joel Elconin - Market Pullback, Tariff Tensions, and Defensive Rotation - A Technical Breakdown

July 31, 2025
  • Joel Elconin
  • Economy
KEReport
By KEReport
KEReport

In this KE Report Daily Editorial (August 1st), we’re joined by Joel Elconin, co-host of the PreMarket Prep show and founder of the Stock Trader Network, to unpack a tough end to the week for markets.

Markets sold off sharply on Friday, driven by a combination of renewed tariff worries and weak jobs data. Joel breaks down the technical damage, discusses the break of key support levels, and explores whether this is simply a short-term pullback or something more significant.

Key Discussion Highlights:

  • Tariff deadline and soft jobs data spark a sharp risk-off move across equities.
  • Tech leadership falters, with names like Apple breaking down below multi-week ranges.
  • Joel highlights a shift in sentiment from a “Goldilocks market” to growing caution.
  • VIX, bonds, and gold rise, while small caps underperform - signs of broad defensiveness.
  • Rotation into value and dividend-paying stocks like utilities and healthcare names.
  • Technical signs of complacency peaking in July, with low realized volatility and narrow breadth.
  • What could come next: tariff negotiations, inflation data, and potential August seasonality pressure.

Joel also shares why investors should zoom out and maintain perspective after a strong run from April’s lows, rather than focusing solely on the recent pullback from all-time highs.

 

Click here to visit Joel’s PreMarket Prep website.

 

Click here to visit the Stock Trader Network. 

KEReport
KEReport
The KE Report provides exclusive interviews with private money managers and sub $10 billion market cap companies. Interviews are published daily to help investors navigate the markets.
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