Defensives gaining ground as Technology weakens

The near-term could prove choppy for US Equities heading into this week’s FOMC meeting.  While there was some definite evidence late last week of $SPX, $QQQ stalling out as Technology reached short-term resistance, one can’t rule out a challenge of last Friday’s highs which might allow for a push to 4025-50.  This would fit with intraday wave counts, but ultimately prove to be sellable for traders over the next few days on strength.  Overall, we’...

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