Tech Leadership Is Rotating. What’s Working Right Now?

Frank Cappelleri
by Frank Cappelleri,
Founder & President, CappThesis, LLC

Frank Cappelleri breaks down how leadership within large-cap tech is rotating as January unfolds. He analyzes the semiconductor ETF, which is holding a breakout and continuing to trend higher, and contrasts that strength with ongoing weakness in software. He reviews how dispersion within the Magnificent Seven is shaping overall performance, and also examines momentum-focused growth ETFs, long-term trend structures, and failed bearish patterns that continue to support the broader uptrend. Together, these charts highlight where leadership remains intact, where pressure is building, and what areas may matter most as earnings season progresses.

The video originally premiered on January 28, 2026.

You can view previously recorded videos from Frank and other industry experts at this link.

ETFs Sectors Market Analysis Equities
Frank Cappelleri
About The Author:

Frank is the founder and president of CappThesis, an independent research firm that helps active investors through time-tested chart and statistical analysis. He has spent decades on Wall Street and holds both CMT and CFA professional designations. Learn More 

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