No Telling If It Will Stick

spx_weekly

Not much to make of the market’s rally as the major indexes bounce off their 50-day averages.

Heavy selling set a new tone a couple weeks ago.

We’re more inclined to think institutions are more defensive than aggressive these days.

But we don’t want to ignore the fact that it’s still a dominant uptrend.

We could very easily see new highs in here. But there’s no telling if they’d stick.

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