Rotation sees Dow Jones continue to outshine the tech sector and the Nasdaq 100

Firstly apologies for the lack of updates over the past few hours. As noted here earlier this was due to technical difficulties which took longer to fix than envisaged. So, since the last update we have had some movement across the markets and the main theme of that has been the positive reaction to the US PCE data, despite that being slightly higher than expected, especially the core annualised rate (2.6% versus 2.5% forecast). You will be spared all the detail here now, as it is pretty historic. The upshot of all this is the dollar has not really weakened at all and the US stock markets are still evidencing significant rotation, out of tech and back into the Dow Jones. The Nasdaq 100 is higher though, but as you can see it is massively lagging the Dow Jones just now. The Dow is close to session highs right now, trading near 40,690 where the Nasdaq 100 is struggling to hold much above 19k.