Semi Rotation Time?

UPDATE from my Sept 18th call: "Time For A Yield Spike" and "Defensives pull back with bonds". Plus: How I'm Playing NVDA with options into Year-End.

Bond And Bond Proxy Short Update

Strong Dollar & Yields are keeping a lid on my semi rotation, so far...

USD made it from my 100.20 price target to my 102.82 price target with overshoot to 103. Will it overshoot now on fed cuts getting priced out from a strong/good CPI print tomorrow morning showing dis-inflation trend (as posted Monday morning was expected)?

Or will it be because of those pesky $14B in US dollar shorts - via Reuters citing CFTC - that may now be unwinding?

10Y yield made it from my 3.6% price target to almost 4.09% - as posted Sept 18th pre-market on Fed Day. Will it overshoot now that bonds and bond proxies (defensives) have clearly come back in to my targets (just as JPM suggests selling defensives)?

Let’s have another look at my bond & bond proxy price targets given past few weeks: