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TECH STOCKS ARE TURNING DOWN

The chart shows the MSCI World Infotech stocks relative to the MSCI World Index (both in US$). The relative chart has just signaled a medium-term top. 
I would reduce the weighting in the IT sector on a medium-term basis.
Moreover, I would be prepared to reduce the IT sector also on a long-term basis, if the relative chart falls below the long-term moving average.

TECH.png
Rolf Bertschi