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Rotation again helps tech and the Nasdaq 100 outperform the Dow Jones

Despite the fall in the Dow Jones following the quite impressive beat on the service sector ISM report, the Nasdaq 100 has defied that move and it is still very much in the green. That comes against the backdrop of a Dow Jones that has now fallen back below 38,600 following that data. Us yields are on the rebound now too and so is the dollar, but that has not yet dented the demand for tech stocks. So, once again we have clearly defined rotation in play in terms of the relative price action between the Dow Jones and the Nasdaq. The Nasdaq 100 is currently trading at 18,790
 

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