“The S&P 500 index and the Nasdaq composite on Monday closed at record highs, while the Dow Jones industrial average broke a four-session losing streak and rose to within less than 1 percent of an all-time high,” Belvedere reports. “‘If you look outside of tech… transports are lagging, small caps have been well off. There’s just a lot of just down S&P industries,’ argued Gordon, who has a background in technical analysis. ‘Energy stocks … [and] financial stocks are underperforming.'”
Belvedere reports, “For bulls playing the indexes, he said, ‘Thank God for Apple, Amazon and Facebook.'”
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MacDailyNews Take: The tech engine, led by Apple, is certainly displaying a lot of horsepower.