Weekly Review

Stocks have moved completely out of their lower trading range and back into the higher TR that started in early May. The fact that the lower TR did not result in a further drop is bullish as it  shows that demand not only stopped the drop but pushed stocks higher back into their former TR.
Analysis of the stock market sectors underscores this point. The top overall sector is technology followed by banks and finance. Consumer staples come in fourth and last. This is much better for the market than when consumer staples are leading.

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