Mid-caps continuing to make headway

The near-term two-day pullback in both Stock indices and Treasuries hasn’t done much damage, and trends in both remain higher over the last few weeks.

Pullbacks are happening in most of the sectors that have experienced the greatest amount of gains this year, like Communication Services, REITS, and Technology. 

Sentiment had shown a few signs of getting short-term ebullient, as part of a longer-term pattern of excessively bearish sentiment.  So while minor pullbacks were possible from last week’s highs, it’s doubtful markets show too much further weakness.

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