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To: robert b furman who wrote (28010)	7/22/2023 8:48:37 AM
From: Les H	2 Recommendations Recommended By Sam skier31 Read Replies (1) \| Respond to of 29600

Utilities ($UTY), banks ($BKX), insurance (KIE), and real estate (KRE) appear to be moving in line with the long-term treasuries (TLT) rally since the end of June. stockcharts.com Those lagging industries are just coming back to their 200-day moving averages, while the tech sectors are still about 20 percent above theirs. It remains to be seen how long this paring of the FAANGs' weighting impacts techs. Equityclock has tech exiting its seasonal strength period of July 17. equityclock.com