The NASDAQ 100 (QQQ) and Technology (XLK) sector continued to show relative strength (see Ranked 10-Month Averages) even in light of the market’s broader pause last week (SPY -0.1%). Speaking of which, while the Small Cap-focused Russell 2000 (IWM) showed early oversold scores by Friday’s end, most of the majors still have a good deal of room to pullback further on the right news flow. Next week is options expiration, but otherwise presents a light economic calendar.
[Week 7 Calendars: Economic | Reporting]
Source: Mrkt_Commentary subscription service; prior weekly posts.
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