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Its still all about Tech as FTSE 100 falls back further

Following the previous update here, noting the divergence again between the Nasdaq 100 and the Dow Jones in early trading, that has now widened a bit more. The Nasdaq 100 has advanced a bit more and the Dow Jones has dropped a bit more. The gains in the Nasdaq 100 are helping the S+P 500 to maintain momentum above 5k though and that is because of the crossover between the two. You see there are a good many tech components within the S+P these days, but not so in the Dow. The same dynamic applies even more to the FTSE 100 and explains the lack of support all week for that index. So, the rise to fresh records in the US markets is clearly mostly about the tech sector and the magnificent severn (to coin a phrase). So, the FTSE 100 has now fallen back below 7,575 this afternoon and seemingly the same dynamic has applied to the DAX to a lesser degree too, as that is now falling back underneath 16,900 and towards 16,875. Meantime, the Nasdaq 100 continues to make hay whilst the sun shines upon it 

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