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Despite underperformance to QQQ, Russell still premature to overweight

SPX and QQQ look to be peaking out following the last 9 of 10 days of rally, which has brought QQQ up to former peaks.  As discussed previously, Technology has done a stellar job in overrepresenting the degree of market strength while most sectors have been slow to participate.  Market breadth and weekly momentum remain negative and quite a few US indices have rallied up to key downtrend lines.  Treasury yields have stabilized and...

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