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Market Update: The Stock Markets Have Broken To The Upside
The S&P 500 index has been trading in a very tight range between its 50-day moving average to the upside, and its 200-day moving average to the downside, for several weeks now. So the markets, although they were experiencing a high level of volatility, were trading in a very predictable manner.
Late last week, we finally had some good news. The S&P 500 index moved higher by 1.3% and closed above the 2,970 level. Why is this significant? It