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Bearishness followed by solid breadth = Best Fed day since 2022

Markets have begun the process of bottoming out and have carved out the first meaningful move off the lows since late last week on above-average breadth data. Despite FOMC lowering its Growth forecast and raising inflation data, Equities turned in their best “Fed Day” performance since 2022.   Moreover, the combination of sentiment data turning fearful, followed by an above-average surge off last week’s lows, looks bullish ...

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