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Last week, I noted that the weekly RSI for the technology sector was diverging, while the industrial sector was looking much stronger. Though this is still the case despite last week’s sharp gains, there was some improvement. The NASDAQ A/D line finally moved above last October’s highs, confirming the price action. It will be important that the A/D line stays above the March lows. The NASDAQ has strong resistance at 2480-2550.
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