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S&P 500 and Dow 30: Fundamentals and Technicals Point to Explosive FOMC Event
Stocks enjoyed another bullish day, with S&P 500 gaining 0.42% and Dow 30 a more modest 0.23%. Compared to Monday’s gains, yesterday rally appears to be more “legitimate”, as the direction was actually pointing higher as evident via the Futures charts compared to the steep decline of Monday. In terms of correlation, S&P 500 has finally managed to outdo Dow 30 after being under its shadow for the past few trading days, but that may have to do with the fact that Dow 30 endured a smaller bearish pullback on Wednesday, and as such was afforded less space for bullish recovery yesterday. Absolute stock prices for S&P ... (full story)
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