From a pure price perspective, stocks – as measured by the S&P 500 – continued their somewhat sluggish upward drift, which is concerning to the extent that any negative surprises could lead to nasty bearish reversals and quickly erase two weeks of gains.
At the margin, however, the trend is our friend until it ends, which looks to continue for coming weeks/months. The Nasdaq Composite now too looks set to reach its all-time highs from the year 2000, which is just another few percentage points away.
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