QQQ playing catchup while Defensives underperform

The extension of this week’s rally helped markets show greater than 5-8% gains, but has begun to change texture a bit as the week has come to a close.  The former outperformance in DJIA has shifted a bit towards cyclicals and Technology while Defensive issues lagged sharply on Friday.  While the DJIA had already broken out above its downtrend from early 2022, the QQQ has just started its bounce and successfully broke out above late October peaks...

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