Aerospace & Defense has begun to slowly fall out of favor

Near-term US Equity trends are positive but overbought following SPX, IWM, and QQQ’s recent push to new high territory, while Equal-weighted SPX and DJIA have lagged.  Despite price being seemingly stretched and leadership growing a bit narrow, there remains no evidence of any technical weakness that would signal the beginning of any consolidation.  While the outperformance in large-cap Technology and sp...

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