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Sector Leadership, Market Rallies, and Currencies

The title of last week’s update was “Markets will Fluctuate, That is a Fact.”  Heading into last week, the S&P 500 had fluctuated down, to the tune of about -9% from the mid-August peak.  This move had occurred over 15 trading days.  Last week, however, the market saw a large fluctuation in the opposite direction, with the S&P 500 bouncing off some technical support and rallying +4%.

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