The NDX 100 Index broke its key resistance level…and the S&P 500 is testing is key level. However, we’ll have to get past this week’s expiration…and some more upside follow-through…to give us confirmation.
If the debt ceiling issue gets resolved, it won’t impact the Fed…or cause banks to lend more.
We’re seeing some underperformance from several defensive groups…including the consumer staples. Is this just something that is working off an overbought condition…or is it the beginning of a big “rotation” move?
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