"The reopening trade is still very much alive," said Oliver Pursche, senior vice president at Wealthspire Advisors in New York. "And you're seeing that in the relative underperformance of the high-flying tech that did so well throughout the shutdowns."
"Things are now getting back to normal from a period of suppressed pricing," Pursche added. "Prices are getting back to their equilibrium. One month of price spikes does not make a trend."