August and September are traditionally tough months for the market. What I currently see is a tug of war developing between the macro economic traders who are looking at the stronger dollar/higher interest rates and playing toward the energy sector and large caps, and the futurists/growth investors who are hoping that lower inflation, lower long-term rates will stabilize and offer artificial intelligence and other market opportunities to take hold. I think the winner will depend upon the time frame. I see the dollar strength and interest rate issues as important but not overwhelming to the longer-term thesis regarding growth in the tech sector. I must be careful though. The market has come to illustrate nervousness and this higher volatility must be respected.
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