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There are two technical trends that stand out in the current market:
- The dips continue to get bought. The bear flags in software momentum stocks keep resolving higher. TTD, ZEN, TWLO are a few recent examples.
- Sector rotation is dominating the tape – while one sector is pulling back, another steps up to take the lead. For example, late last week we saw some weakness in biotech but the general market closed strong as tech and financials shined.
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