Mark Newton: Tech Is Carrying the Market While 10 of 11 Sectors Fall Behind

Technical analyst Mark Newton says the market's latest highs are masking major weakness beneath the surface. $QQQ hit a new all-time high even as 10 of 11 major sectors fell at least 2% over the past month, with more than half of those sectors down over 6%.
Newton notes this marks a complete reversal from the broad strength seen between May and July, when tech had been consolidating while healthcare, industrials and financials led and kept the overall market largely sideways.