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So much for the growth to value rotation

The Nasdaq Composite Index continued its march northward, closing above 14,000 for the first time Tuesday as it notched a fresh high for a fourth straight session — the lone major U.S. equity benchmark to do so.

In the process, it crossed into overbought territory on two technical measures: 14-day relative strength index and GTI Global Strength Indicator.

“There’s money — oodles of it everywhere,” Bob Doll, chief equity strategist at Nuveen, told Bloomberg Television. “The Fed providing amazing amounts of money, checks being mailed to consumers — some of that finds its way into the stock market — and we also have earnings that are very strong.”

Източник: Blomberg Pro Terminal
Графика: Used with permission from Bloomberg Finance L.P.

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