The large-cap tech stocks got hit yesterday, but “rotation” into other groups buoyed the market. That’s good, but if the big names ever get hit in a sustainable manner, the rest of the market will fall with them.
The dollar is breaking below a minor support level. It’s still above its more important support level, but this renewed weakness could/should still have an impact on other asset classes…like commodities.
WTI crude oil is close to testing several key resistance levels. If they can break above those levels, we’ll have to turn more constructive on the energy stocks once again.
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