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Room for the Bulls  to Run?

Room for the Bulls
to Run?

Take-Aways: In a note on October 24th, we argued that there was a scope for a year-end rally that could take the S&P 500 to 3,900. The index has broken above that level, an incrementally bullish development that could lead to a test of 4,100 as the next key...
Some  “Risk-On” Vibes

Some
“Risk-On” Vibes

Take-Aways: The strongest day for the S&P 500 since the COVID lows has pushed the index through the key 3,900 level that we have been highlighting. This incrementally bullish dynamic opens the door for a possible run to the 200-day moving average. With the...
We Need  to See More

We Need
to See More

Take-Aways: Breadth metrics were mixed on the week but have generally held on to the improvements that we have been highlighting in these note for the past two weeks. However, the current breadth dynamics are not supportive of a sustained move above the 3,900 level...
Small Caps  Continue to Lead

Small Caps
Continue to Lead

Take-Aways: The S&P 500 was once again turned away at the key 3,900 level. The index remains in a neutral position if it holds above 3,700 and becomes incrementally bullish above the 40-week moving average. Small Caps continue to exhibit relative strength in the...