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Every weekend I pour over 150 sector charts for signs of unusual strength or weakness in an effort to determine which areas I want to focus my attention on. I like to use the 60 minute chart to really drill down to see what’s really going on. Sometimes you can gleam a bit of insight by which sectors are outperforming or under-performing the indexes, in an attempt to see where the markets might be heading.
With the SOX being as strong as it has been as of late, it’s no surprise the Nasdaq is outperforming the other major indexes, but I just can’t see this trend lasting much longer.
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