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Equal-weighted SPX breakout looks bullish for broader market recovery

Trend bullish- Expecting that SPX-4325 might prove temporary stopping point only and pullbacks should be buyable for rally into late June

A few important technical developments occurred over the past week that are worth mentioning:

First, SPX got back over the 4200 level and proved to be a more broad-based rally, as breadth indicators strengthened. 

Second, Equal-weighted S&P 500 broke out above its downtrend from February 2023 which had b...

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