Wells Fargo cuts its S&P 500 target to 7,700, warning of a potential 10% market pullback as equity allocations reach 72%! KEY HIGHLIGHTS: • Equity allocations sit at 72%—a 12% gap above historical fair value signaling overextended positioning • Downgrades Technology ($XLK) to Equal Weight while upgrading Healthcare ($XLV) to Overweight • Prefers software over chipmakers within tech as semiconductor stocks face potential retests of July lows THE RATING: Near-term pullback warnings and sector rotation pressures balance against long-term index strength, keeping the Seeking Alpha Quant score for $SPY at a BUY. Are you rotating out of tech $XLK into defensive sectors like healthcare $XLV, or buying any pullback in the S&P 500$SPY? Drop your take below! 👇 ▻