CITADEL: JULY RESET THE BULL MARKET, NOT ENDED IT Citadel's Scott Rubner says July's sharp selloff and sector rotation cleared out excessive positioning without breaking the broader bull market. Retail investors turned net sellers, AI and semiconductor stocks were heavily sold, and leveraged ETF assets fell by more than $60B from their June peak. "July did not change the structural bull market. It reset it," Rubner said, adding investors can now focus more on company fundamentals than positioning.(*Walter Bloomberg)