After Merger Monday Comes… Tech Tuesday? Ok not the cleverest bit of alliteration but the usual gang of Tech, Media, Semis & co are leading the charge once again, though Apple (AAPL +1.4%) is off its highs as its September product event has yielded few surprises. It should be noted the optimism continues to spill over into to pretty much every sector too (besides Banks/Financials), including reopening/recovery spaces (XLB new all-time high, TRAN index nearly the same, SML back above the 50-DMA). Many labeled the early September Tech wreck as an inevitable removal of froth, and the somewhat broader rally of the last 2 sessions provides some hope that the market isn’t simply “re-frothing”, but still a look at FANG concentration shows that the short-term plunge was barely a blip on the longer-term radar. There’s a long way to go before it can be said that investors are spreading the love…
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