Defensives continuing to gain traction over last few months

Despite the rally over the last four of five weeks for SPX, it sure hasn’t felt like it lately !!   SPX has largely ground sideways, with Monday’s 4137.03 close being less than 13 points away from 4124.50 from 4/3/23, the first trading day of April.  That’s 0.003% higher, or largely unchanged.

As discussed, the deterioration in Large-cap Technology has been responsible for much of this stalling out, while the rebound in Healthcar...

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