One of the characteristics of bull markets and strong uptrends is sector rotation. While Technology was the first to start leading the market higher in July, Financials and Transportation stocks have recently held the leadership duties. You can start to throw in Industrials the past few weeks into the leadership category as well. Meanwhile, some of the mega-cap names have held back Technology, at least temporarily, from continuing to make new highs. But when you look underneath the surface, I believe there is a much different story to tell.
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