From the desk of Vance Howard:
The S&P Index jumped 6.7% last week, the best since the week ending November 6, 2020. What’s more, the rally ended the losing streak at seven, avoiding a tie for the most consecutive weekly declines in the history of the benchmark. Breadth indicators like “Percentage of SPX issues above their 20-day moving average” jumped to their highest levels of the year. This is encouraging given that trends remain negative.
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