Range breakout should drive SPX to 4200+ as Debt Ceiling negotiation gains steam

Trend has improved with Wednesday’s breakout; Expecting SPX rally above 4200 is underway with Wednesday’s gains

Wednesday’s range breakout seems to be occurring directly on signs of the Debt ceiling negotiation showing progress in recent days.  While no official agreement is yet in place, both parties seem intent on reaching a deal in the days to come.

7 of 11 sectors finished higher than 1% on the day in Equal-weighted terms; However, it was the rebound in...

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