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Unsurprisingly, the first test of SPY’s and QQQ’s 200-day moving averages has led to a slight pullback, but under the surface, we continue to see predominantly positive market action. The market is reacting favourably to earnings reports. Dip buyers are still eager to scoop pullbacks in strong momentum stocks.
In today’s Momentum Monday, we went over some setups in enterprise software, cybersecurity, communication devices, medical instruments, biotech, aerospace.
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