US SECTORS : rotation is favouring a consolidation
​The S&P 500 sent a minor sell signal yesterday. This signal means that the rythm of the rally is going to change dramatically, and we are probably entering a consolidation. We think most of April could be between 2007 and 2080. The sector rotation is supporting such a consolidation. Telecoms, which have been leaders recently, are very overbought, whereas Healthcare, which has been a laggard, is recovering.
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