Trump trade unravelling? S+P 500 futures in the red this morning

Yesterday the S+P 500 was unable to rise above the 6k handle. The index stalled at 5,993.88 and fell back to a low at 5,942.28. It later followed the Nasdaq 100 to a lower close, ending the session, 36.21 points lower, at 5,949.17. The futures have fallen further so far today and are pushing back towards the 5,900 handle. The losses there are being accompanied by similar falls in the Nasdaq 100 and Dow Jones futures too. The post Trump election victory high for the index was set at 6,017.31 and right now the index is priced to reopen some 100 points below that top. Question; has the Trump trade run its course, or is this just an interim relapse based on profit-taking? Perhaps that is all it is at this stage and from here it will be policy that shapes the direction. Of course we have to wait for next year at the earliest for that to even start to kick-in. We should also not forget the comments from Powell last night, walking back on future rate cuts, because that is important too and seems to be what has undermined traction just now. The S+P 500 is right now priced to reopen around 5,917