Encouraging bounce, but more needed to have conviction

SPX and QQQ look to be trying to stabilize and rally after a very sharp two-week decline into this week.   Trends in DJIA and Equal-weighted S&P 500 look far better in the short run, than SPX and QQQ which remain within two-week downtrends.  Thus, while Friday’s rally was encouraging, it can’t be said with confidence that a move back to new highs should happen right away.   However, it’s expected that ...

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