by Brooke Thackray, Research Analyst, Horizons ETFs
The S&P 500 has broken above 2400, a key resistance level, but has done so on declining volume. In addition the number of stocks trading above their 200 day moving average has declined, indicating narrowing of market breadth.
Technology sector is a market leader, outperforming the S&P 500 since 2013. Very often market leaders lead the stock market on the way up and then on the way down. The technology sector is often weak in June.
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