Daily Report : Weekly Wrap for Dec 17 - Big Tech divergences, Staple thrust, Biotech oversold, bond pessimism
This week, we saw a continued negative divergence in many tech stocks in the Nasdaq 100. Defensive sectors like Consumer Staples is seeing the opposite scenario, with a recent breadth thrust. Biotech looks oversold. Overseas markets continue to struggle versus the U.S. Sentiment on bonds is trying to recover from a near decade-low.
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