Defensive trading dominates as Pharma, & Utilities break out

Similar to Tuesday’s mild “down day,” Wednesday’s pullback failed to show sufficient deterioration to expect much follow-through just yet.

The key driver of this rally, Technology, has not given much of an indication of topping, and key index constituents like $AAPL, and $MSFT remain trending higher and should press to new weekly highs into next week.

However, in a potential mid-to-late month advance warning sign of possible weakness, Defensiv...

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