Stock market rotates out of technology and towards the big caps

The Dow and S&P 500 staged a powerful bullish two-day turnaround on 
Thursday and Friday; the technology dominated Nasdaq - not so much. 
Stocks have undergone a rotation out of technology and other growth 
sectors towards big caps and consumer staples. The net effect of 
this has been a sideways movement over the last two weeks despite 
the gyrations on Thursday and Friday.

The Technology Group lost 1.84% in relative strength and every one
of its sectors lost strength. The biggest losers were Tele-
communication Services (-3.3%), Bio Technology (-2.8) and 
Semiconductors (-2.7). The Cyclicals group also lost substantial 
strength (-0.95%) led by a huge 5.5% drop in strength of the 
Automobile sector, a 4.1% drop in the Building sector and a 2.7% 
fall in the Real Estate sector.

Here's the relative strength chart of the Auto Sector:autoHere's the relative strength chart of the Building Sector:building

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