$VZ & many other Telecom stocks pressing up to multi-year highs as this trend towards Defensive positioning continues. NEW charts via @Marketsurge by #IBD @IBDinvestors What started off last year w/ Utilities, HC strength has now turned into full-blown Consumer Staples showing massive outperformance, Strong telecom gains, & Utilities stabilizing & turning higher just in recent days. While Utes strength is one thing.. seeing huge relative strength out of Staps over Disc & Telco rallying are not great signs while Tech struggles

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