We're just not there yet

spx_weekly13

The major indexes push further above their 50-day moving averages…

Smack dab into the technical resistance, which is marked at about 850 on the S&P 500 as well a downward trend line.

So far, buy volume is dominant.

Pullbacks are key to watch to see if volume dries up.

We’ll wait before deciding if this rally shows longer-term potential – we’re just not there yet.

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